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Why Are Alibaba And Other Chinese Stocks Trading Lower Premarket?

December 28, 2021
Source: yahoo.com yahoo.com
News Snapshot:
China looks to impose new restrictions on offshore listings by firms in sectors that are off-limits to foreign investment, Bloomberg reports . Curbing VIEs from foreign listings would close a gap abused for two decades by technology giants from Alibaba Group Holding Ltd (NYSE: BABA ) to Tencent Holdings Ltd (OTC: TCEHY ) to sidestep restrictions on foreign investment and list offshore. The structure allows a Chinese firm to transfer profits to an offshore entity registered in places like the Cayman Islands or the British Virgin Islands with shares that foreign investors can own. Related Content: More Trouble For Alibaba...
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Tags: Alibaba | Ant Group | Baidu | BIDU | block | Bloomberg | Britain | ByteDance | Cayman | China | Chinese | Hong Kong | investment | ipo | Ministry of Commerce | online payment | online shopping | online video | search engine | social media | stock market | stocks | technology | Tencent | TikTok

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