"Level the playing field, or shut them down" - Shark Tank's Kevin O'Leary criticizes China for not complying with American accounting rules

Modified Apr 16, 2025 06:49 GMT

Shark Tank investor Kevin O’Leary is never one to hold back when it comes to having a fair competitive space for business. In a recent appearance on the AM 1100 The Flag (WZFG) talk radio station, he called out China for not complying with American accounting rules, which gave them an unfair advantage over US-based entrepreneurs.

On April 15, Kevin posted a clip from an interview on Instagram where he criticized Chinese companies for taking advantage of U.S. systems. He said they can sue American companies in U.S. courts, but don’t allow the same for U.S. businesses in China. He also called out how they avoid U.S. accounting rules while raising money on American stock markets.

In the caption, the Shark Tank star said he’s had enough of China’s “double standard.” He urged SEC head Paul Atkins to either enforce the rules on Chinese companies or shut them down.

"I’ve had enough of the double standard... The new SEC boss better start enforcing the law, or I’ll make sure the noise gets loud. Level the playing field, or shut them down," he wrote in the caption.

Shark Tank investor Kevin O’Leary explains how Chinese companies have an unfair advantage

During the AM 1100 The Flag (WZFG) talk radio station interview, after Kevin O’Leary noted that the Chinese companies don't comply with the American regulations, the interviewer asked for a reason, wondering if the U.S had gotten "soft" over the situation.

In response, the Shark Tank star noted that the U.S would just need to enforce its law on Chinese companies. He then shared that if a Chinese company wanted to litigate a competitor in the United States, it could hire an American lawyer and sue the American company.

However, he pointed out, if an American company wanted to do the same in China, they wouldn't have a reciprocal right to do so in the country.

"So my attitude is 'OK, Chinese company, if you're a controlled Chinese company controlled by the Chinese Communist Party, you can't use the American legal system, not until you give us reciprocal rights. I'm sorry, you're just shut off now,'" he added.

Kevin further pointed out that the Chinese companies dodge American accounting rules, which allows them to raise billions on U.S. stock exchanges.

When looking at the NASDAQ or the New York Stock Exchange, he noted that the Chinese companies that don't comply with American gap laws had over $800 billion worth of market capitalization.

Expressing his frustration, the Shark Tank investor said that while these companies don't have to comply, he does. He shared that he has to pay millions of dollars to actually comply with the rules of the SEC and all the other regulators. Meanwhile, Chinese companies get to raise money without following the rules, which he felt wasn't legal.

Despite his concerns, Kevin expressed a sense of optimism with the appointment of Paul Atkins as the new head of the SEC. During the interview, he said he believes Atkins will finally hold these companies accountable and enforce compliance.

"I went to the Hill last week and I said to Atkins, 'Hey, are you going to enforce this law? Because I got no problem competing with any company that I have to play in the same level playing field with'. And he said, 'Yeah, we're going to start delisting these companies finally,'" he added.

Shark Tank season 16 episodes air every Friday on ABC.

About the author

Mohsin Nakade is a Reality TV writer at Sportskeeda. Although he graduated with a B-Tech IT degree, it was Mohsin’s passion for movies and TV shows that led him to become a pop culture writer. He has previously worked at Otakukart and was a movie script analyst at First Draft Film Works. He has also led a team of eight content writers in the entertainment category, as it is his favorite industry.

Mohsin's love for reality TV writing is rooted in the high-octane drama of the shows. Additionally, because he enjoys writing, reality shows provide him with the best content to work with. Mohsin maintains credibility by conducting extensive research and fact-checking. Additionally, he makes sure his writing is transparent by refraining from giving misleading information.

Apart from watching TV series, reality shows, and writing about them, Mohsin also loves making story-based short videos and has a deep love for cinema, much like his idol, Timothée Chalamet.

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