The Public Company Accounting Oversight Board said it has secured complete access to inspect China-based audit firms for the first time in history, resetting a three-year delisting clock for Chinese companies on American stock exchanges.
The U.S. audit regulator said Thursday its recent inspection of these accounting firms was conducted without consultation or input from Chinese authorities.
All other companies have to follow ever increasing reporting requirements. But the Chinese don’t even have to provide the basics.
These are 'Peace talks' Nothing money used to delay the delisting, In fact Resetting the Delisting for another 3 years. This is simply buying time. The funniest part is they literally believe the books are NOT cooked...
do you really trust the data?
This is a great start to get some ideas about Chinese investing! There will be some surprises! I believe the Chinese government will be directly involved in fraud of individual investors especially people outside of China! Watch Brics
Ultimately the Chinese companies need the access to foreign capital markets