Inventory delisting dangers averted as US good points entry to audit papers of Chinese language tech corporations

Stock delisting risks averted as US gains access to audit papers of Chinese tech companies

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Hong Kong
CNN
 — 

US regulators have gained full access to the audits of Chinese companies for the first time, reducing the threat that tech giants such as Alibaba

(BABA) and JD.com

(JD) could be kicked off US stock exchanges.

The announcement marks a major breakthrough in a yearslong standoff over how Chinese companies listed on Wall Street should be regulated. It will come as a huge relief for these firms and investors who have invested billions of dollars in them.

“For the first time in history, we are able to perform full and thorough inspections and investigations to root out potential problems and hold firms accountable to fix them,” Erica Williams, chair of the Public Company Accounting Oversight Board (PCAOB), said in a statement Thursday, adding that such access was “historic and unprecedented.”

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