1. <track id="kfyky"></track>
    2. <bdo id="kfyky"><dfn id="kfyky"></dfn></bdo>
      <track id="kfyky"></track>
      <track id="kfyky"></track>

        1. <bdo id="kfyky"></bdo>
        2. <nobr id="kfyky"><optgroup id="kfyky"><dd id="kfyky"></dd></optgroup></nobr>
          xi's moments
          Home | Finance

          Regulators make big step in resolving audit dispute

          By ZHOU LANXU in Beijing and SHI JING in Shanghai | CHINA DAILY | Updated: 2022-08-27 07:51

          [Photo/Sipa]

          Regulators from China and the United States signed a cooperative supervision agreement on Friday, taking a substantial step toward resolving the auditing dispute surrounding US-listed Chinese companies, officials and experts said.

          The China Securities Regulatory Commission, the Ministry of Finance and the US Public Company Accounting Oversight Board signed an audit oversight cooperation agreement on Friday and will advance relevant cooperation in the near future, the CSRC said in a statement.

          The agreement establishes a cooperation framework in line with the authorities' respective laws and regulatory mandates and sets out specific arrangements for conducting inspections and investigations by both sides over relevant audit firms within the jurisdiction of both sides, the statement said.

          "The signing of the agreement is an important step forward by regulators in China and the US towards resolving the audit oversight issue that concerns mutual interests and lays the foundation for proactive, professional and pragmatic cooperation in the next stage," the statement said.

          According to the agreement, Chinese and US regulators will both assist with the inspections and investigations of relevant audit firms conducted by the other side, unnamed CSRC officials said in a separate statement.

          Audit work papers that the US regulator needs access to will be obtained by and transferred through the Chinese side, providing a feasible path for protecting information security while strengthening audit supervision cooperation, the officials said.

          The US stock market has responded positively. E-retailer Pinduoduo rose 7 percent in pre-market trading hours on Friday, while new energy vehicle maker Nio was up 4 percent and financial services provider Futu Holdings rose 6 percent.

          Experts said that, by establishing a long-awaited comprehensive audit oversight solution acceptable to the two sides, the agreement marks a significant breakthrough in resolving the audit dispute regarding US-listed Chinese companies that has exposed many of them to delisting risks.

          Peng Wensheng, chief economist at China International Capital Corp, said the agreement is not only good news for investors and public companies, but is also a win-win scenario for the two countries.

          For US-listed Chinese companies, the agreement will reduce the possibility of forced delistings and help them to get more financing from the capital market, Peng said.

          For other Chinese companies with the intention of listing overseas, the option of going public on US bourses is now more attractive, Peng said.

          Nevertheless, officials and experts noted that the ultimate elimination of the delisting risks of US-listed Chinese companies still awaits the effective implementation of the agreement.

          "If the upcoming cooperation concludes to the satisfaction of both sides' regulatory mandates, it is hopeful that the audit oversight issue of the US-listed Chinese companies will be resolved and delisting can be avoided," the CSRC officials said.

          Global Edition
          BACK TO THE TOP
          Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
          License for publishing multimedia online 0108263

          Registration Number: 130349
          高校生的玩物TⅹT全本免费下载
          1. <track id="kfyky"></track>
          2. <bdo id="kfyky"><dfn id="kfyky"></dfn></bdo>
            <track id="kfyky"></track>
            <track id="kfyky"></track>

              1. <bdo id="kfyky"></bdo>
              2. <nobr id="kfyky"><optgroup id="kfyky"><dd id="kfyky"></dd></optgroup></nobr>