Author: HimalayaCT– Feihua
Translator: HimalayaCT- – Freeearth
Proofreading: HimalayaCT- – Yanbohaomiao
On May 20, 2020, the U.S. Senate unanimously passed Bill S.945-the “Foreign Companies Accountability Act.” The main provision of Act S.945 is that if certain companies do not allow PCAOB to review company audits, then these companies will be prohibited from trading on any stock exchange in the United States or through the United States Securities and Exchange Commission (SEC).
On the day, the Senate passed the bill, Rep. Brad Sherman, chairman of the Investor Protection, Entrepreneurship and Capital Markets Subcommittee of the Financial Services Committee of the US House of Representatives, also introduced a similar bill. It is worth noting that the Subcommittee of Representative Sherman is the subject of the House of Representatives with jurisdiction over the bill, which increases the possibility of the bill being officially promulgated.
On November 28, a report from the Radio France International: according to news from Washington, the U.S. House of Representatives will vote on a bill requiring Chinese concept stocks listed on the U.S. stock market to comply with U.S. auditing rules and delisting of those who do not comply. According to the Wall Street Journal, the leaders of the U.S. House of Representatives plan to review a bill next Wednesday to force Chinese companies listed on the U.S. stock market to either transition to an annual audit reviewed by U.S. regulators or remove stocks from the US trading market. The House of Representatives plans to vote in accordance with the rules restricting debate and requires a two-thirds majority to pass the relevant bill. If this bill becomes law, it will give Chinese companies and their auditors three years to comply with inspection requirements before they may be delisted from the US stock market. Chinese officials previously criticized the bill, saying that there is a better way to resolve the differences between Washington and Beijing in audit and inspection, and the delisting of Chinese companies will harm the US capital market. This legislative motion was supported by both parties and passed unanimously in the Senate in May this year.
When the election fraud lawsuit reveals that the CCP is rigging the election, the House of Representatives is highly likely to pass it by voting on December 2nd Eastern time. What impact will this bill have on the Chinese Communist Party and its people, the New Federal State of China (NFSC) and the United States?
This bill requires all the Chinese companies listed in the United States to prove that they are not supported by the Chinese Communist government and requires auditing of the financial data of these companies. This will expose the truth of all the fraud and stealing of the CCP’s companies. All these Chinese-funded companies are facing withdrawal from the US stock market. The market value of these stocks is in the trillions U.S dollars. These companies are not going to be fine with delisting but are facing class actions and compensation by many investors. So what compensations is the CCP going to pay? It will inevitably increase the pressure on the domestic people. The delisting of these companies is another big step in decoupling the United States from the CCP financially. This will cause a sharp depreciation of RMB (Chinese Yuan), soaring domestic prices, depletion of foreign exchange, and inability to import food and other foods. The recent increase in Australian import tariffs is also the result of the CCP’s efforts to minimize the consumption of foreign exchange. Domestic foreign-funded companies withdrew more quickly, and many supporting companies went bankrupt. Taobao, Alibaba, Baidu and other Chinese companies are going to be bankrupted, and the entire financial system of the CCP is going to be collapsed. If the CCP cannot pay back the losses of U.S. investors, the CCP is likely to be a rogue. Then the United States will cancel the CCP’s state immunity, define it as a terrorist organization, and freeze their property to repay American investors.
It brings opportunities for our NFSC. Our NFSC’s virtual currency linked to Hcoin and G-dollar with gold and US dollars, and we will have financial systems such as banks, securities, insurance, trusts, etc., as well as the entities behind the financial systems. We have various forms of truth-telling and truth-spreading media such as Gnews, G-TV, and the NFSC TV station to be established, as well as related entities such as GFashion and future G-mall, which involve processing and manufacturing, and logistics package expands domestic logistics and international logistics, warehousing and catering and hotel services. This poses a challenge for our farm to implement the financial system and real economy, and it is also the most important task for our farm, This poses a challenge for our farm to implement the financial system and real economy, and it is also the most important task of our farm, so as to realize the value of the NFSC.
The passage of this bill has had a tremendous positive impact on the US financial market and the US national system. The audit will help to rid the U.S. stock market of fraudulent and thieving companies, contribute to the healthy development of the market, and stabilize the country’s financial system against foreign aggression. Through auditing, all the shadow government members involved in colluding with the CCP and all the spies planted by the CCP in the United States can be found, and it will clean up the financial market and the United States. The CCP and members of the shadow government colluded to formulate a dual listing standard. In many years, they have been falsified, deceived, and stolen the wealth of the American people and the people of the world, and used this wealth for election fraud, and subverted the entire U.S. national system. Through this law, all were eradicated, and the U.S. will be back on track and great again.