China’s regulator is confident it can fix audit issues for US-listed Chinese stocks


SHANGHAI, March 11 (Reuters) – China’s securities regulator said on Friday it was confident it would reach an agreement with its U.S. counterparts on securities supervision, after listed Chinese stocks fell in the United States following the designation of the first Chinese companies potentially delisted.

Earlier this week, the U.S. Securities Exchange Commission (SEC) identified five New York-listed Chinese companies that will be delisted if they do not provide access to audit documents, according to a March 8 post on its official website. .

Washington demands full access to the books of Chinese companies listed in the United States, but Beijing bans foreign inspection of the working papers of local accounting firms – an audit dispute that involves hundreds of billions of dollars in investments Americans. Read more

In the note posted on its official WeChat page, the China Securities Regulatory Commission (CSRC) said that together with the Ministry of Finance, it has continued to communicate with the US Public Company Accounting Supervisory Board and has made “positive progress”.

The CSRC also added that it strongly opposes the “politicization of securities supervision”.

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Reporting by Roxanne Liu, Samuel Shen and Engen Tham in Shanghai; Editing by Kenneth Maxwell

Our standards: The Thomson Reuters Trust Principles.

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