Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), said he was confident that he had no confidence in reaching a review agreement for the audit of China Stock Corporation.
According to Bloomberg, Genler said on Wednesday (July 13) at a telephone meeting with the media that the sincerity of the United States and China is still continuing, but there is risk. This really depends on it.In China, he also said that he did not have much confidence in this agreement.
Genler refused to disclose what the problem caused the two sides to be deadlocked and unable to reach an agreement.The US listed company's Accounting Supervision Commission (PCAOB) did not immediately respond to the comments request.
Gustler said that unless China agrees to the PCAOB censorship of the audit draft in the U.S. listing in the United States, these Chinese companies will be forced to be forced to be from the New York Stock Exchange and the Nasdaq Exchange in 2024The delisting, and if the U.S. Congress passed the new bill by the end of this year, this time may be advanced.
He believes that investors should be clear that the US Congress has clearly stated that PCAOB must be "complete" of the audit documents of listed companies.
China -US officials have negotiated on this issue for more than two years. As mainland China and Hong Kong do not allow the United States to review the audit draft in the US listed company, SEC has been focusing on listed on New York for a long time.Companies of the two places.
The two parties also held a call meeting for further negotiations this month to avoid more than 200 Chinese companies listed in the United States by JD.com, Alibaba, and Pinduoduo.
YJ Fischer, director of the US SEC international affairs, said in May this year that although it has made progress in discussions with mainland China and Hong Kong in the discussion of audit compliance, there are still major problems.At that time, the China Securities Regulatory Commission responded that China and the United States were committed to achieving arrangements that meet the laws and regulatory requirements of both parties.
