China says ‘decoupling’ would harm both sides/U.S

China warned on Monday of instability in international markets from any “decoupling” of China and the United States, after sources said the Trump administration was considering delisting Chinese companies from U.S. stock exchanges.

Chinese Foreign Ministry spokesman Geng Shuang said he had noted the reports on delisting and the response from the U.S. Treasury, which said there were no plans to block Chinese listings “at this time”.

China-U.S. trade and financial cooperation is mutually beneficial, Geng told a daily news briefing.

“Exerting maximum pressure and even seeking the forced decoupling of China-U.S. relations will harm the interests of Chinese and American companies and people, create turmoil in financial markets, and endanger global trade and economic growth,” he added.

Stocks in mainland China fell to their lowest in almost a month on Monday on the news that the United States may curb Chinese companies’ access to U.S. capital markets, stoking fears of a major escalation in the trade war.

The United States and China have been locked in an escalating trade war for over a year. They have levied punitive duties on hundreds of billions of dollars of each other’s goods, roiling financial markets and threatening global growth.

In June, U.S. lawmakers from both parties introduced a bill to force Chinese companies listed on American stock exchanges to submit to regulatory oversight, including providing access to audits, or face delisting.

Chinese authorities have long been reluctant to let overseas regulators inspect local accounting firms – including member firms of the Big Four international accounting networks – citing national security concerns./investing

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