Chinese Stock Delisting Threat Eases as U.S. Gets Access to Audit Data
(Bloomberg) — About 200 companies based in the Chinese mainland and Hong Kong no longer face an acute threat of being booted off American stock exchanges as U.S. authorities reported successful audit reviews, sending China shares surging.
Inspectors of the U.S. Public Company Accounting Oversight Board (PCAOB) have been able to sufficiently review audit documents from businesses based in the two jurisdictions, the agency said Thursday. The determination diminishes the chances that companies including Alibaba Group Holding Ltd. and JD.com Inc. will be delisted in New York.
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