Alibaba, the largest Chinese tech firm listed in the US, was added to the list of firms facing potential removal from US stock markets by the Securities and Exchange Commission on July 29, along with a few other Chinese companies, including Mogujie and Cheetah Mobile. The trio join a growing list of Chinese firms (more than 150) that could be removed from US exchanges as they failed to meet American officials’ auditing requests, violating the Holding Foreign Company Accountable Act (HFCAA) that was issued in 2020. Alibaba announced that this was the first unaudited financial year for the firm, and it will try to maintain its listings in Hong Kong and the US. HFCAA stipulates that firms can be delisted in the US after three consecutive years of failing to allow the American audit watchdog to inspect their auditors. Alibaba applied for a dual primary listing in Hong Kong in late July. [Bloomberg]