Announcing the deal, U.S. officials struck a cautious note, warning it was just a first step and that their view on China’s compliance would be determined by whether they are able to conduct their inspections unobstructed, as the deal promises.
The China Securities Regulatory Commission said the agreement was an important step towards addressing the auditing issue and benefited investors, companies and both countries. “We have to hold China to the same standards as every other company and every other country that lists on American exchanges,” U.S. Republican Senator John Kennedy, a key architect of the 2020 law, said in a statement on Friday.
“This is seen as a positive first step. However, things are not fully cast in stone yet,” said Samuel Siew, market specialist at CGS-CIMB.Article content “This agreement is an important development for the global economy and our U.S. capital markets, which remain preeminent largely because of their ability to balance investor protections and access to the world’s leading companies,” Lynn Martin, president of the New York Stock Exchange said in a statement.This advertisement has not loaded yet, but your article continues below.