China's securities watchdog said it is poised to turn over audit documents of a Chinese company listed in the United States to US regulators, signaling a possible breakthrough in an international dispute over accounting scandals.
The US Securities and Exchange Commission has been struggling to get papers out of China to investigate possible accounting fraud at dozens of Chinese companies listed on US stock exchanges. China, for years, has resisted turning over documents because of state secrets and sovereignty concerns.
The China Securities Regulatory Commission (CSRC) is now ready to transfer audit papers to the US Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB), a CSRC spokesman said, confirming earlier local media reports.
The spokesman did not identify the Chinese company whose audit documents the CSRC is turning over.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%