after a report that China is considering granting U.S. authorities full access to company audits. This would allow those companies to continue trading publicly in the U.S. The China Securities Regulatory Commission told CNBC that it told some accounting firms toOver the weekend, Beijing also proposed revising confidentiality rules involving offshore listings, removing a legal hurdle to cooperation between both countries on audits, Reuters reported.
"So if the biggest players ... Baidu, Alibaba, Tencent — are these companies going to open up their books to U.S. regulators for audits? Because if they don't, you're taking off a bunch of market capitalization," he added."Concrete policy action to stabilize China's property market will likely be required to sustain this market rally.
"Although China may be resuming a market-friendly stance, it is still too early to call this a new dragon market run," said Shah.Kieran Tompkins of research firm Capital Economics added that the near-term outlook for growth continues to deteriorate, with high oil prices, renewed lockdowns and other factors threatening earnings growth.
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