U.S. and China reach landmark audit deal in boon for Chinese tech companies
Posted on AllSides August 26th, 2022
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REUTERS/Tingshu Wang
Beijing and Washington took a major step on Friday towards ending a dispute that threatened to boot Chinese companies, including Alibaba, from U.S. stock exchanges, signing a pact to allow U.S. regulators to vet accounting firms in China and Hong Kong.
U.S. regulators have for more than a decade demanded access to audit papers of U.S.-listed Chinese companies, but Beijing has been reluctant to let overseas regulators inspect its accounting firms, citing national security concerns. read more .
The deal marks a partial thaw in U.S.-China relations amid tensions over...