Ali, Baidu, Jingdong and NetEase, lost $60 billion in three days

With the threat of delisting looming, China’s two listed tech giants – Alibaba, Baidu, Jingdong and NetEase – lost $60 billion in three days, CNBC reported.

This comes amid the passage of the Foreign Company Accountability Act by the U.S. stock exchanges, which threatens to delist companies from the U.S. stock exchanges unless they meet U.S. auditing standards . More seriously, Chinese tech companies also face potential challenges at Home as Beijing seeks to regulate the sector and establish new rules in industries ranging from fintech to e-commerce.

As of Friday’s (March 26) close in Hong Kong, the market capitalization of the four dual-listed tech stocks had fallen by HK$468.64 billion ($60.31 billion) in three days, according to calculations by CNBC via data obtained by Refinitiv Eikon.

Here’s a list showing how much each U.S.-listed company has lost in market capitalization.

Between Tuesday’s close and Friday’s close in Hong Kong.

Alibaba: Lost HK$303.1 billion ($39 billion)

Baidu: Loss of HK$107.54 billion loss of HK$30.674 billion

NetEase: loss of HK$27.334 billion

Notable among them was Baidu, China’s largest search engine, which made a lackluster debut in its secondary listing in Hong Kong on Tuesday. The stock closed flat in its first day of trading.

On Wednesday , the U.S. Securities and Exchange Commission (U.S. Securities and Exchange Commission) passed a bill that threatens to delist companies from U.S. stock exchanges unless they meet U.S. auditing standards.

The law, known as the Foreign Company Accountability Act, was passed by the Trump administration.

Companies identified by the SEC would need to be audited by U.S. watchdogs and would need to prove they are not owned or controlled by a government entity in a foreign jurisdiction. In a statement Wednesday, the SEC said companies must also identify who on their boards of directors are Communist Party officials.

In addition to these regulatory uncertainties, Chinese technology companies face potential challenges at home as the Communist government tightens its grip on rapidly expanding industries and enacts anti-monopoly laws in the fintech and e-commerce sectors.

Reuters reported earlier this week that the founder of Chinese tech conglomerate Tencent met with Communist Party anti-monopoly officials this month to discuss his group’s compliance issues.