Caixin
Mar 25, 2022 09:35 PM
FINANCE

Caixin Explains: What’s Holding China and U.S. Back From Resolving Their Audit Regulation Deadlock

Big names like Alibaba, Pinduoduo and Baidu are among the 200-plus firms caught in the long-running audit dispute between regulators in the world’s two biggest economies. Photo: VCG
Big names like Alibaba, Pinduoduo and Baidu are among the 200-plus firms caught in the long-running audit dispute between regulators in the world’s two biggest economies. Photo: VCG

Last week, global markets witnessed one of the steepest sell-offs of U.S.-listed Chinese stocks since the 2008 global financial crisis, partly triggered by the Securities and Exchange Commission’s (SEC) naming of the first batch of five Chinese companies that could be kicked off American stock markets for failing to meet audit requirements. The sixth firm, social media giant Weibo Corp., became the first internet platform added to the list on Wednesday.

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