Caixin
Apr 03, 2022 08:33 AM
FINANCE

China Proposes Revised Rules to Enable Sino-U.S. Audit Cooperation

The U.S securities regulator identified 11 Chinese companies that could face delisting for failing to meet audit requirements.
The U.S securities regulator identified 11 Chinese companies that could face delisting for failing to meet audit requirements.

China proposed revising rules that restrict offshore-traded companies’ sharing of financial data in a step toward resolving a long-running audit dispute with the U.S. that threatens to result in more than 200 Chinese stocks being kicked off U.S. exchanges.

The revised draft rules — jointly released Saturday by the China Securities Regulatory Commission (CSRC), the Ministry of Finance, the National Administration of State Secrets Protection and the National Archives Administration — would remove previous requirements that on-site inspections of overseas-traded Chinese companies should be mainly conducted by Chinese regulators or rely on their inspection findings.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST