House Backs Curbs on China Stock Listings, Sends Bill to Trump
- Trump expected to sign measure, which Senate previously passed
- Bill would give companies at least three years to comply
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The U.S. House of Representatives approved legislation that could ultimately lead to Chinese companies -- including behemoths like Alibaba Group Holding Ltd. and Baidu Inc. -- getting kicked off American exchanges if regulators aren’t allowed to review their financial audits.
The legislation won bipartisan support in the House after easily clearing the U.S. Senate in May. Its passage now sends the bill to President Donald Trump, who is expected to sign it, in his administration’s latest parting shot at Beijing.