China, US near deal on audits in HK - report

Donnerstag, 25. August 2022 16:34

United States regulatory agencies may soon receive the green light from China to conduct audits of US-listed Chinese companies, The Wall Street Journal reported on Thursday, citing unnamed sources with knowledge of the matter.

Chinese regulators are preparing to move accounting data of those companies from mainland China to Hong Kong, where the US Public Company Accounting Oversight Board could gain access to the audit information, according to the report.

A potential agreement could result in Hong Kong visits by US agencies as soon as September and prevent the delisting of more Chinese companies from New York under Washington's Holding Foreign Companies Accountable Act.

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Baha Breaking News (BBN) / MS