Latest Push by Chinese Firms to Avoid Delistings Falls Short
- Several firms switched to US auditors in recent months
- American officials warn that moves may not be enough
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Chinese companies are flailing in a fresh bid to avoid being booted off US stock exchanges for shirking Washington’s oversight demands.
American regulators say they doubt their calls for more transparency will be met by Chinese businesses simply hiring US auditors. Switching accounting firms had been seen by some companies as a way to satisfy a 2020 law that threatens to remove businesses from the New York Stock Exchange and Nasdaq if US officials can’t inspect their audit work papers.