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US-China Talks on Delistings Advance With H.K. Inspections

  • Officials are discussing plan for PCAOB inspectors to travel
  • Clock ticking to avoid a congressionally imposed 2024 deadline
Bloomberg business news
US-China Talks on Delistings Advance With Reports of Inspections
Updated on

Talks between Beijing and Washington to avoid the delisting of about 200 companies from New York stock exchanges are gathering pace with a plan to let US inspectors travel to Hong Kong to review audit documents of Chinese businesses.

Chinese regulators have instructed major accounting firms to prepare to bring the audit work papers of US-listed Chinese companies to Hong Kong, where they can be reviewed by the Public Company Accounting Oversight Board, according to a person who asked not to be identified as the discussions are private. The conversations, which remain ongoing, could result in a significant advance in a years-long standoff over the inspections, which are required for all firms that trade in the US.