Company Of The Day: Baidu
U.S. listed Chinese tech majors including Baidu (NASDAQ:BIDU) and Alibaba (NYSE:BABA) have been told by Chinese regulators to prepare for more audit disclosures, per a report from Reuters.
The U.S. government has increased scrutiny of Chinese tech companies, warning that companies that don’t comply with accounting and audit rules could be delisted from U.S. exchanges. With the recent developments, it appears that the Chinese government is working to ensure that Chinese big tech players stay on U.S. exchanges.
Baidu stock was up by about 5% in Tuesday’s trading, while Alibaba stock was up by roughly 11%.
See Our Complete Analysis For Baidu
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