China regulator seeks to avoid U.S. delistings of Chinese firms

china regulator seeks to avoid u s delistings of chinese firms

Sumary of China regulator seeks to avoid U.S. delistings of Chinese firms:

  • com/article/us-usa-sec-foreigncompanies-idUSKBN2BG2AI American stock exchanges if their audits fail to meet U.S. standards.
  • The Public Company Accounting Oversight Board (PCAOB) and U.S. policy makers have long complained of a lack of access to audit working papers for U.S.-listed Chinese companies.
  • Citing national security concerns, Chinese authorities have been reluctant to allow overseas regulators to inspect working papers from local accounting firms.
  • In December 2020, during the last weeks of his administration, President Donald Trump signed a law aimed at removing foreign companies from U.S. exchanges if they failed to comply with American auditing standards for three years in a row.
  • org/oversight/international showed China as the only jurisdiction that denied the PCAOB “necessary access to conduct oversight.
  • ” Hong Kong previously faced similar problems with access to mainland China audit working papers, but Alder said the SFC’s relationship with the CSRC and a 2019 agreement https://www.
  • The Hong Kong stock exchange, last week, confirmed it would proceed with rule changes to make it easier for overseas-listed Chinese companies to carry out secondary listings, and for companies to change a Hong Kong secondary listing to a primary one.

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