U.S.-Listed Chinese Stocks Jump After China Reportedly Considers Sharing Company Audits – NBC 5 Dallas-Fort Worth

New York-listed Chinese stocks jumped Friday after a report that China is considering sharing key information that would allow the firms to continue trading publicly in the U.S.

Beijing regulators are working to give U.S. authorities complete access to audits of Chinese companies listed publicly in New York, Bloomberg reported Friday. The China Securities Regulatory Commission also told CNBC in a statement that it met with some accounting firms in the country, telling them to consider preparing for joint inspections.

Alibaba jumped 7.2%, JD.com added 6.7%, Baidu gained 9.1%, and Pinduoduo rallied 11.5% before the bell Friday.

The access could come as soon as the middle of this year, Bloomberg reported.

Chinese regulators are creating a “framework” that would let most companies stay listed in the U.S., according to Bloomberg. However, certain firms with “sensitive data” could be delisted, the report said.

The move comes after the U.S. Securities and Exchange Commission added Chinese…

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source: https://news.oneseocompany.com/2022/04/01/us-listed-chinese-stocks-jump-after-china-reportedly-considers-sharing-company-audits-nbc-5-dallas-fort-worth_2022040117231.html

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