News Snapshot:
A leading China hawk in the US Congress has lashed out at Chinese listings in the US in the wake of the botched initial public offering of ride-hailing app Didi Chuxing, as the debacle attracted scrutiny in Washington. Marco Rubio, Republican senator from Florida, told the Financial Times in a statement that it was “reckless and irresponsible” to allow Didi, which he described as an “unaccountable Chinese company”, to sell shares on the New York Stock Exchange. He added that Beijing’s regulatory crackdown, which triggered a brutal share price decline in the wake of the IPO, “further underscores the risks”...
