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Trade war

China warns US audit plan will harm both sides

Confidence in American capital markets would erode, Beijing says, as foreign companies leave

The floor of the New York Stock Exchange: China warns that the proposed law would weaken the U.S. capital markets' international standing.   © Reuters

HONG KONG -- The U.S. is "politicizing securities regulation" with a proposed law that could force Chinese companies off American stock markets, hurting both countries, China's top stock market watchdog warned Sunday.

China is targeted by some parts of the bill, the China Securities Regulatory Commission said in a statement opposing the Holding Foreign Companies Accountable Act that the Senate passed last week by unanimous consent.

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