Companies from Hong Kong, a special administrative district of China, temporarily expelled from the local stock exchange, as they could not comply with its reporting rules, writes CNBC.
About 50 Hong Kong companies have fallen under the suspension of auction. All of them could not publish financial statements in time with the results of activities for 2020.
As a reason, most companies refer to the complexity caused by coronavirus pandemic. A hundred specifically puts them in time to publish reporting, not specified.
A similar situation arose last year. Then the Hong Kong Exchange went to meet 384 companies and introduced a poslement, allowing the publication of reporting that did not last an external audit. However, this year it was decided to refuse such measures.
Hong Kong Exchange often uses companies with mainland China, seeking to attract funding from Western investors. This contributes to the special status of Hong Kong, on which the Beijing introduced in relation to Beijing, including within the framework of the trade war with the United States, restrictions.