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China’s Race to Avoid a Wall Street Ban Is Off to a Tense Start

  • China asks auditors to redact some details: people familiar
  • Some 200 Chinese firms risk being expelled from US exchanges
The Prince’s Building in Hong Kong.
The Prince’s Building in Hong Kong.Photographer:Jonathan Wong/South China Morning Post/Getty Images

The latest high-stakes drama between the world’s biggest superpowers is unfolding in the unlikeliest of places: a Hong Kong office tower full of accountants.

It’s here, on the 23rd floor of Prince’s Building in central Hong Kong, where number crunchers and regulators will determine the fate of hundreds of billions of dollars in US-listed Chinese shares -- and possibly the future of financial cooperation between Washington and Beijing.