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US House clears China delisting bill, sending it to Trump

03 Décembre, 2020, 18:54 | Auteur: Anatole Charbonneau
  • US Congress passes bill that could delist Chinese stocks from US markets

The US government and Congress suspect that the Chinese Communist Party backs or has involvement in the firms' management.

The policy, which took immediate effect, caps visas for members of the party as well as their immediate families to one month and a single entry into the country, the report said.

"For decades we allowed the CCP free and unfettered access to U.S. institutions and businesses while these same privileges were never extended freely to USA citizens in China", a State Department spokesperson said in a statement quoted by the Times. It is believed that the restrictions could theoretically apply to about 270 million people.

Until now, party members had been able to obtain United States visitor visas that last up to 10 years.

Tensions have worsened between the world's two biggest economies, with both countries stepping up travel restrictions on each other's citizens.

China retaliated in March by expelling more than a dozen American journalists from major USA newspapers.

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The Trump administration has also revoked the visas of more than 1,000 Chinese students under a policy introduced in June that accused some of espionage and stealing intellectual property.

China is understood to have described the move as "an escalation of political repression".

Washington and Beijing have clashed over China's handling of the coronavirus outbreak, its tightening grip on Hong Kong, its disputed claims in the South China Sea, trade and accusations of human rights crimes in Xinjiang.

Speaking at the daily media briefing, Chinese Foreign Ministry spokeswoman Hua Chunying said the law would harm global investors' confidence in the US market, and China will take necessary countermeasures to protect its benefits.

Beijing has previously accused Washington of "political persecution and racial discrimination" over visa restrictions.

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