Markets
Hong Kong Gets Chinese Audit Papers the U.S. Is Demanding
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Hong Kong regulator ‘confident’ it can audit Chinese companies
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U.S.-China spat over audit documents threatens U.S. listings
Hong Kong has received the first access to financial audits from mainland Chinese companies, an issue that has vexed relations between the U.S. and China and threatens to lead to the delisting in New York of giants such as Alibaba Group Holding Ltd.
As part of a 2019 understanding with the Chinese Finance Ministry, the Hong Kong Financial Reporting Council has now obtained the first batch of audit papers from mainland China, becoming the first offshore regulator to break through the state secrecy barrier.
