Earlier this week, the US Securities and Exchange Commission (SEC) identified five New York-listed Chinese companies that will be delisted if they do not provide access to audit documents, according to a March 8 posting on its website. official site.
Washington demands full access to US-listed Chinese companies’ books, but Beijing bars foreigners from inspecting working papers of local accounting firms – an audit dispute involving hundreds of billions dollars of American investments.
In the statement posted on its official WeChat page, the China Securities Regulatory Commission (CSRC) said that together with the Ministry of Finance, it has continued to communicate with the US Public Company Accounting Oversight Board and made “positive progress”.
The CSRC also added that it strongly opposes the “politicization of securities supervision”.