Chinese regulators ask some US-listed firms to prepare for audit disclosures – Economic Times
Hong Kong/Beijing: Chinese regulators have asked some of the country’s US-listed firms, including Alibaba, Baidu and JD.com, to prepare for more audit disclosures, sources said, as Beijing steps up efforts to ensure domestic companies remain listed in New York.
This comes as China‘s regulators are considering a proposal to allow their US counterparts to inspect audit working papers of some Chinese firms that do not gather sensitive data, two of the sources said.
As part of that move, the China Securities Regulatory Commission (CSRC) and other regulatory agencies earlier this month summoned top internet companies, including search engine leader Baidu Inc and e-commerce major JD.com Inc, four sources told Reuters.
Other internet firms summoned by the regulator included Alibaba Group and Weibo Corp, two of the sources with direct knowledge of the matter said. E-retailer Pinduoduo Inc and gaming firm NetEase Inc also attended the meeting, one of them added.
They were asked to prepare…
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source: https://news.oneseocompany.com/2022/03/22/chinese-regulators-ask-some-us-listed-firms-to-prepare-for-audit-disclosures-economic-times_2022032216559.html
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