US-listed Chinese firms get a new lease on life—maybe – Mint

China’s securities regulator proposed revisions to China’s secrecy laws over the weekend that would remove a requirement that audit inspections of overseas-listed Chinese companies be done mainly by Chinese regulators. That has been a key sticking point between China and the U.S. for more than a decade. But the U.S. position has hardened in recent years following a string of high-profile fraud cases involving U.S.-listed Chinese companies like Luckin Coffee, and amid the general deterioration in bilateral relations.

As a result, more than 200 U.S.-listed Chinese companies could soon be booted out of American stock exchanges. The Securities and Exchange Commission has listed more than 10 companies since last month that have declined to let U.S. regulators review their most recent audits, meaning they could be delisted in 2024. Companies flagged include China’s search-engine giant Baidu and the operator of China’s Twitter-like service Weibo.

This latest concession from China paves the…

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source: https://news.oneseocompany.com/2022/04/04/us-listed-chinese-firms-get-a-new-lease-on-lifemaybe-mint_2022040417387.html

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