“Forget about delisting. We should deregister these securities.” Hayman Capital Management founder Kyle Bass says that Chinese companies should have to adhere to U.S. standards to raise money in the U.S.
Chinese companies do not deserve to be listed on the U.S. stock exchange if they don't adhere to the same standards as every American company, said hedge fund manager and Hayman Capital Management founder Kyle Bass.
"Imagine what kind of fraud is behind these companies," Bass told CNBC's "Squawk on the Street" on Monday. "All of the U.S. money that goes into Chinese companies, it goes into companies that don't operate under a rule of law." U.S. trade representative Peter Navarro told CNBC's "Squawk on the Street" that the reports were "fake news" on Monday. And over the weekend, a Treasury spokeswoman said "the administration is not contemplating blocking Chinese companies from listing shares on U.S. stock exchanges at this time."China signed a memorandum with the U.S. in 2013 that exempts Chinese companies from submitting to U.S.
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