March 22, 2024
U.S. Rep. Tables New Bill to Hamper Mutual Funds from Investing in Products that Track CN Stock IndexesPursuant to a new bill of the U.S. Congress, the country's mutual funds will not be able to invest in some products that track Chinese stock indexes, Bloomberg reported.
Office of Rep. Brad Sherman, a Democrat from California, said the bill targets mutual funds that primarily track Chinese stock indexes, rather than an index that only includes a number of Chinese companies.
Sherman also propounded to eliminate the
preferential tax on capital gains from U.S. investments in Chinese, Belarusian, Iranian, North Korean and Russian companies.Source: AAStocks Financial News
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