China weighs giving US total access to audits of most firms

Chinese authorities are preparing to give US regulators full access to auditing reports of the majority of the 200-plus companies listed in New York as soon as mid-this year, making a rare concession to prevent a further decoupling between the world’s two largest economies. The China Securities Regulatory Commission and other national regulators are in the process of drafting a framework that will allow most Chinese firms to keep their listings, people familiar with the process said. However, the government is prepared to accept that some state-owned enterprises and private companies that hold sensitive data will be delisted, they said.