There is a recent story about Chinese companies withdrawing from United States stock exchanges. They still want investors and the exposure from being listed on the NY Stock Exchange or other major index.
What they do not want is US control and expense.
“[A] deadlock between Beijing and Washington over whether U.S. regulators can oversee their China-based auditors…. Withdrawing also eliminates the cost of complying with American financial reporting rules.”
In other words, first the US wants to “oversee” Chinese auditors.
Second, the strangling cost of US regulations outweighs the benefits of a US stock listing.
While some could claim this helps root out fraud and gives value and trust to US stock listings, the fact is the US is a control freak on the world stage, wanting to impose its oversight, laws, and regulations on everyone – whether it be copyright, taxes, or stock listings.
Someday the Chinese stock exchange may be the most important in the world, because everyone is sick and tired of unending, intrusive, and expensive Big Brother “oversight.”