BEIJING – March 28 (ONLINE) Chinese regulators and their U.S. counterparts are working hard to solve an audit dispute affecting U.S.-listed Chinese firms and want to achieve effective and sustainable cooperation as soon as possible, a state-run newspaper reported on Sunday.
Citing a source close to Chinese regulators, the official China Securities Journal reported that the China Securities Regulatory Commission (CSRC) heard opinions from some U.S.-listed Chinese companies during an online meeting on Sunday.
“Both Chinese and U.S. regulators are fully aware of each other’s concerns, and are moving toward each other, and working hard to find solutions to the issue in order to achieve effective and sustainable cooperation as soon as possible,” the source was cited as saying.
“This is in the best interests of the capital markets of both countries and global investors.”
CSRC said that the recent talks with U.S. regulators have been efficient, candid, and professional, the newspaper said.
The comments come days after the U.S. public company accounting regulator said that recent media speculation about an imminent deal with China was “premature”, and it remained unclear if the Chinese government would grant the access required by a new U.S. listing law.
Washington is demanding complete access to the books of U.S-listed Chinese companies, but Beijing bars foreign inspection of working papers from local accounting firms – a long-simmering auditing dispute that puts hundreds of billions of dollars of U.S. investments at stake.
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