Written by: Ermat
Proofread by: Ermat
According to a July 19 report in the Epoch Times, the Hong Kong stock exchange will launch a new trading platform, FINI (Fast Interface for New Issuance), by the end of 2022. Its aim is to suppress Chinese companies listed in the U.S. and to lure international capital to trade in Hong Kong.
The new platform was reportedly created to direct capital to Hong Kong. The Chinese Communist Party has asked certain Chinese companies not to list in the U.S. and to list in Hong Kong instead. If mainland companies do not listen, “DIDI” is the example. The CCP is trying to get international capital to trade with mainland Chinese technology companies in the Hong Kong stock market.
This is done because the CCP fears the U.S. Foreign Company Accountability Act. The Act requires companies listed in the U.S. to provide financial statements and to undergo financial audits.