Baidu is considering its options over its Nasdaq listing as US lawmakers come closer to imposing tighter rules on Chinese companies trading in New York, reported the Financial Times.
“The US government is constantly tightening its control of Chinese companies listed in the US,” Li told China Daily. “Internally, we are constantly discussing what we can do in response, including a secondary listing in Hong Kong or other places,” he said.
“Our basic judgment is that if you are a good company, there are many options for where to list, and it is not limited to the United States,” Li said on the sidelines of China’s annual legislative session. “We are not too worried that the suppression of the US government will have an irreparable impact on the company’s business.”
On Wednesday, the US Senate passed a bill that could force some Chinese companies eventually to de-list from US exchanges because of issues around the accessing of audit reports by the Public Company Accounting Oversight Board.