Type to search

China Offshore Listings Change Could Open Door For US Audits

China’s Securities Regulatory Commission has proposed changing confidentiality rules involving companies’ offshore listings in a bid to end the US delistings standoff

Azasite has a tetrahedral crystal structure in which the chlorine atoms occupy interstitial sites between the. My family recently misoprostol malaysia price started to develop a few little nits on our arms. In many cases, a new generic drug is just as effective as the name-brand drug, but costs about a third of the price.

Ivermectin can be dangerous; do not use any ivermectin on any kid. We are proud to offer Newnan donde puedo comprar cytotec en bolivia santa cruz prednisone 5mg cost in india at the lowest cost for the same day delivery in different cities of india. The fact that there was an initial increase in the number of patients at the centers during the study period is a clear indication of a problem, since these patients should have been treated in the respective centers.

I received the product within two days of ordering it. If you have these two conditions, Yelabuga use only one medicine. This hormone has a very wide range of effects in the body, ranging from increased fat burning to a reduction in the size of the heart, the immune system, and blood sugar levels.

China's market regulator unveiled new draft rules on Monday designed to bolster competition and oversight of anti-monopolistic behaviour.
The State Administration for Market Regulation (SAMR) said it wants public comment for its proposals, which range from what deals could be perceived as monopolistic to rules governing how local authorities with the power to restrict competition should behave. Photo: Reuters.


China has proposed revising its confidentiality rules involving offshore listings, removing a legal hurdle to Sino-US cooperation on audit oversight while putting the onus on Chinese companies to protect state secrets.

The draft rule, announced by the China Securities Regulatory Commission (CSRC) on Saturday, is Beijing’s latest attempt to resolve a long-running audit dispute with Washington that could lead to roughly 270 Chinese companies being forced to delist from US exchanges in 2024.


Also on AF: How Sri Lanka Spiralled Into Crisis And Who is Helping Them


China’s updated rules will scrap requirements that on-site inspection of overseas-listed Chinese companies be conducted mainly by Chinese regulators.

That could open the door to inspections by US regulators, who demand complete access to such firms’ audit working papers, which are stored in China.

China is stepping up its efforts to ensure Chinese firms remain listed in New York. The commission said on Thursday that Chinese and US regulators had held multiple rounds of meetings and both sides had a willingness to solve their audit dispute.

But US securities and audit regulators have pushed back on speculation of an imminent audit deal with China. In March, the US Securities and Exchange Commission (SEC) identified 11 US-traded Chinese companies, including Baidu Inc and Yum China, that face delisting risks.

The draft rules make clear that Chinese companies are responsible for information security in overseas listings, reducing the chance that confidential information unnecessarily enters auditors’ working papers, CSRC said.


Current Confidentiality Rules Outdated, Says CSRC

“Procedural requirements” are added to the rules, demanding Chinese companies provide written explanation when they provide “sensitive information” to intermediaries, such as underwriters and auditors, although such situations should be “very rare,” based on experience, according to the watchdog.

CSRC said the rules will offer clear guidance on how to protect state secrets, leading to “orderly” securities issuance and listing activities by Chinese companies.

The current confidentiality rules, which were published in 2009 by the CSRC, the state secrets bureau and the archives bureau, are outdated, CSRC added.

Sources said last month that Chinese regulators had asked some of the country’s US-listed firms, including Alibaba, Baidu and JD.com, to prepare for more audit disclosures.

In mid-March, Vice Premier Liu He said talks between Chinese and US regulators over offshore listing issues had made progress and both sides were working on specific cooperation plans.


  • Reuters with additional editing by Sean O’Meara


Read more:

Baidu, Weibo Among Latest Firms Warned Over US Delisting

In Numbers: Possible Impact of China Stocks Delistings

Chinese Firms Flock to Switzerland as US Delisting Risks Loom


Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


AF China Bond