The Cyberspace Administration of China is moving to extend its regulation of PRC companies to include those listed on American exchanges. That’s all well and good; the US looks to regulate American companies that are listed on foreign exchanges.
All companies domiciled or headquartered in the People’s Republic of China became, formally, arms of the PRC’s intelligence community under that nation’s 2017 intelligence law.
No PRC company should be allowed to list on an American exchange, and those currently listed should be delisted.
Beyond that, no PRC company should be allowed to acquire, or gain a stake of any size in, any American company, nor should any PRC company be allowed to partner in any way with any American company.
The risks to the safety of intellectual property, the technology risks, the national security risks are simply too great.