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Accelerated Inspection Deadline for Chinese Companies Listed in the U.S.

This Act shortens the time frame for Chinese companies listed in the U.S. to comply with accounting firm inspections by the U.S. Public Company Accounting Oversight Board (PCAOB). Instead of the previous longer period, Chinese issuers will now face a trading prohibition after only one year of non-inspection. This change aims to enhance investor protection and financial transparency regarding foreign companies trading on U.S. exchanges.
Key points
Rule change: Chinese companies listed in the U.S. must submit to PCAOB accounting inspections within one year to avoid a trading ban.
Investor protection: Faster enforcement of inspection requirements is intended to increase the reliability of financial reports for individuals investing in these companies.
Consequences: Failure to meet the new, shorter deadline may result in the delisting of Chinese company stocks from U.S. exchanges.
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Expired
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Additional Information
Print number: 118_HR_4879
Sponsor: Rep. Luetkemeyer, Blaine [R-MO-3]
Process start date: 2023-07-25
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Holding Chinese Listed Companies Accountable Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4879.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-07-25.

What are the main provisions?

Key points include:

  • Rule change: Chinese companies listed in the U.S. must submit to PCAOB accounting inspections within one year to avoid a trading ban.
  • Investor protection: Faster enforcement of inspection requirements is intended to increase the reliability of financial reports for individuals investing in these companies.
  • Consequences: Failure to meet the new, shorter deadline may result in the delisting of Chinese company stocks from U.S. exchanges.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Luetkemeyer, Blaine [R-MO-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy