“This is nothing but an unjustified political crackdown on Chinese enterprises listed in the United States,” foreign ministry spokesman Wang Wenbin told a daily new briefing in Beijing.

“It will seriously hinder the normal listing of Chinese companies and distort the basic market economy rules that the U.S. has always touted,” Wang said.

President Donald Trump on Friday signed legislation that would remove Chinese companies from U.S. stock exchanges unless they adhere to American auditing standards, the White House said, giving the Republican one more tool to threaten Beijing with before leaving office next month.

REUTERS