HONG KONG, Dec 22 (Reuters Breakingviews) - The party’s over for Chinese companies in New York. They’re being squeezed by lawmakers in both Beijing and Washington over data protection, accounting oversight plus other crackdowns and political spats. New U.S. rules that would usher out lingerers won’t apply for two years, but waiting until the last minute only will make leaving harder. New American laws will force companies to delist read more if their audit papers can’t be reviewed by U.S. bean-counter watchdogs. Assume no change in China’s reluctance to clear the way, and some 270 enterprises are in danger of getting the boot in 2024. Beijing’s own recent efforts to control corporate funding options and tighten security over consumer information also have spooked overseas investors. Nasdaq’s Golden Dragon index of U.S.-listed Chinese stocks fell roughly a third from the start of 2021 through early December while mainland-listed blue-chip counterparts were broadly flat. The ability to fetch higher valuation multiples had been one key Manhattan attraction. Even if the current pressures ease, U.S.-Sino tensions will persist. Nearly two dozen companies, worth some $800 billion, have sought a dual listing in Hong Kong. Another 100 or so with a total market capitalisation of about $400 billion, led by e-commerce outfit Pinduoduo (PDD.O), meet the Asian hub’s standards, Bank of America analysts reckon. It’s easy to see half that combined sum relocating its centre of trading in 2022. Indexers including MSCI and FTSE already use the Hong Kong price for Alibaba (9988.HK), and others. As the queue grows, so does the danger of investor fatigue and valuation discounts. Similarly, buyouts could be complicated by higher borrowing costs or pushy shareholders. Asian private equity firm PAG recently teamed up with hedge fund Oasis to make an offer for online marketer iClick Interactive Asia (ICLK.O) that will at least force its controlling owner to lift any bid. Some 150 companies worth a combined $40 billion probably will need to be acquired before seeking another listing venue. The bottom line is that U.S.-listed Chinese companies will spend much of 2022 scrambling to replenish capital. The race will be on before escape routes get crowded. Didi Global (DIDI.N) is already hailing a $32 billion ride home. Others will have to rush to beat the traffic. Follow @JennHughes13 on Twitter CONTEXT NEWS - Didi Global said on Dec. 2 that it would start work on delisting from the New York Stock Exchange and seek to sell its shares in Hong Kong. The ride-hailing company raised about $4.4 billion in an initial public offering on June 30 despite being asked to put it on hold while Chinese officials reviewed its data practices. It was the biggest U.S. share sale by a Chinese company since Alibaba raised $25 billion in 2014.