Forwarded from 📡Guardians of Hong Kong
#Economy #Finance #Audit #ChinaPolicy #ChineseCompanies #US
#Trump Administration Advisors: Chinese Companies Must Comply with US Audit Requirements by 2022 or Risk Getting Delisted
The Trump administration advisers have proposed to President Trump that Chinese companies shall lose their listings on the US stock markets if they do not comply with US audit requirements by 2022.
The US Senate has already passed a bill in May 2020 requiring the Public Company Accounting Oversight Board (#PCAOB) to audit foreign listed companies. If the relevant companies fail to comply for three consecutive years, the companies will be forced to give up their listings. The Wall Street Journal has reported that the President’s Working Group (#PWG) on Financial Markets, chaired by Treasury Secretary Mnuchin, has announced at a briefing on August 6th that they have completed a report on how to protect American investors. At the briefing, the officials from the treasury department stated that Chinese companies currently listed on the US exchanges must disclose their accounts to the PCAOB, and that Chinese companies will be delisted from US stock markets if they fail to meet these audit requirements by 2022. In other words, Chinese companies currently listed in the US still have more than a year to prepare their audits.
According to a Reuters report, Chinese companies preparing to go public on the US exchanges must comply with the new audit regulations. The report also states that Chinese firms can opt for a “co-audit” through U.S. accounting firms with China-based affiliates.
Source: Stand News #Aug07
#TreasurySecretary #Mnuchin
#PublicCompanyAccountingOversightBoard #PresidentWorkingGroups
https://thestandnews.com/finance/%E8%8F%AF%E5%BA%9C%E9%A1%A7%E5%95%8F-%E5%88%B0-2022-%E5%B9%B4%E4%BB%8D%E6%9C%AA%E7%AC%A6%E7%BE%8E%E5%AF%A9%E8%A8%88%E8%A6%81%E6%B1%82%E7%9A%84%E4%B8%AD%E8%B3%87%E4%BC%81%E6%A5%AD%E8%A6%81%E9%99%A4%E7%89%8C/
#Trump Administration Advisors: Chinese Companies Must Comply with US Audit Requirements by 2022 or Risk Getting Delisted
The Trump administration advisers have proposed to President Trump that Chinese companies shall lose their listings on the US stock markets if they do not comply with US audit requirements by 2022.
The US Senate has already passed a bill in May 2020 requiring the Public Company Accounting Oversight Board (#PCAOB) to audit foreign listed companies. If the relevant companies fail to comply for three consecutive years, the companies will be forced to give up their listings. The Wall Street Journal has reported that the President’s Working Group (#PWG) on Financial Markets, chaired by Treasury Secretary Mnuchin, has announced at a briefing on August 6th that they have completed a report on how to protect American investors. At the briefing, the officials from the treasury department stated that Chinese companies currently listed on the US exchanges must disclose their accounts to the PCAOB, and that Chinese companies will be delisted from US stock markets if they fail to meet these audit requirements by 2022. In other words, Chinese companies currently listed in the US still have more than a year to prepare their audits.
According to a Reuters report, Chinese companies preparing to go public on the US exchanges must comply with the new audit regulations. The report also states that Chinese firms can opt for a “co-audit” through U.S. accounting firms with China-based affiliates.
Source: Stand News #Aug07
#TreasurySecretary #Mnuchin
#PublicCompanyAccountingOversightBoard #PresidentWorkingGroups
https://thestandnews.com/finance/%E8%8F%AF%E5%BA%9C%E9%A1%A7%E5%95%8F-%E5%88%B0-2022-%E5%B9%B4%E4%BB%8D%E6%9C%AA%E7%AC%A6%E7%BE%8E%E5%AF%A9%E8%A8%88%E8%A6%81%E6%B1%82%E7%9A%84%E4%B8%AD%E8%B3%87%E4%BC%81%E6%A5%AD%E8%A6%81%E9%99%A4%E7%89%8C/
Forwarded from 📡Guardians of Hong Kong
#Malaysia #1MalaysiaDevelopmentBerhad #RoyalMalaysiaPolice #LowTaekJho #Macau
1Malaysia Development Berhad Fraud Case – Malaysian Police Insists Low Taek Jho Hiding in Macau
The Inspector-General of Police of the Royal Malaysia Police (#PDRM) Tan Sri Abdul Hamid Bador recently stated that the mastermind behind the 1Malaysia Development Berhad (#1MDB) fraud case and wealthy Chinese businessman Low Taek Jho was hiding in Macau.
PDRM accused Chinese law enforcement agencies of providing asylum to him and causing many obstructions in the extradition process. The Chinese Embassy in Malaysia and the Macau Government subsequently denied the claims. The Office of the Secretary for Security of Macau issued a statement saying that PDRM unilaterally claimed that Low was in Macau and that it was inconsistent with the facts.
Abdul Hamid pointed out that "the Macau police should take this matter seriously"
According to foreign news reports on Aug 7, Abdul Hamid reiterated that Low was hiding in Macau. Speaking about requesting the foreign police to arrest a criminal, he asked, "Did we do anything wrong? If they asked for our cooperation, we would also assist." He believed that it should be in the “nature” of police to bring criminals to justice. He emphasized that this is a crime involving RM50 billion, not a political feud.
Abdul Hami pointed out, "Low has developed business in Macau with almost no constraints. His family is there. Is it really that difficult to investigate into their whereabouts?" He said that since PDRM has submitted an Interpol red alert calling for police everywhere to assist in tracing Low’s whereabouts, “Macau police should take this matter seriously and uphold a spirit of mutual assistance, instead of shirking responsibilities."
Source: Stand News #Aug07 (Originally published in Macau Concealers)
#Interpol #AbdulHami #ChineseEmbassy #MacauPolice
1Malaysia Development Berhad Fraud Case – Malaysian Police Insists Low Taek Jho Hiding in Macau
The Inspector-General of Police of the Royal Malaysia Police (#PDRM) Tan Sri Abdul Hamid Bador recently stated that the mastermind behind the 1Malaysia Development Berhad (#1MDB) fraud case and wealthy Chinese businessman Low Taek Jho was hiding in Macau.
PDRM accused Chinese law enforcement agencies of providing asylum to him and causing many obstructions in the extradition process. The Chinese Embassy in Malaysia and the Macau Government subsequently denied the claims. The Office of the Secretary for Security of Macau issued a statement saying that PDRM unilaterally claimed that Low was in Macau and that it was inconsistent with the facts.
Abdul Hamid pointed out that "the Macau police should take this matter seriously"
According to foreign news reports on Aug 7, Abdul Hamid reiterated that Low was hiding in Macau. Speaking about requesting the foreign police to arrest a criminal, he asked, "Did we do anything wrong? If they asked for our cooperation, we would also assist." He believed that it should be in the “nature” of police to bring criminals to justice. He emphasized that this is a crime involving RM50 billion, not a political feud.
Abdul Hami pointed out, "Low has developed business in Macau with almost no constraints. His family is there. Is it really that difficult to investigate into their whereabouts?" He said that since PDRM has submitted an Interpol red alert calling for police everywhere to assist in tracing Low’s whereabouts, “Macau police should take this matter seriously and uphold a spirit of mutual assistance, instead of shirking responsibilities."
Source: Stand News #Aug07 (Originally published in Macau Concealers)
#Interpol #AbdulHami #ChineseEmbassy #MacauPolice
立場新聞 Stand News
《立場新聞》編採獨立自主，不受任何贊助人、財團、權力機構及黨派左右。我們以非牟利原則營運，所有經營盈餘和贊助，只會用於傳媒事業。
Forwarded from 📡Guardians of Hong Kong
U.S. Senate passes bill to help Taiwan regain WHO status
The U.S. Senate passed a bill late on Thursday calling on the State Department to submit a plan to help Taiwan regain its observer status at the World Health Organization, one of several U.S. bids to boost Taiwan as it faces pressure from Beijing.
Taiwan is excluded from most global organizations such as the WHO, the U.N. health agency, because of the objections of China, which considers the island one of its provinces and not a separate country.
The legislation, passed by unanimous consent, was sponsored by Senators Bob Menendez, the Democratic chairman of the Senate Foreign Relations Committee, and Jim Inhofe, the top Republican on the Senate Armed Services Committee.
Source: Reuters #Aug07
https://reut.rs/37qxZLe
#US #Taiwan #WHO
The U.S. Senate passed a bill late on Thursday calling on the State Department to submit a plan to help Taiwan regain its observer status at the World Health Organization, one of several U.S. bids to boost Taiwan as it faces pressure from Beijing.
Taiwan is excluded from most global organizations such as the WHO, the U.N. health agency, because of the objections of China, which considers the island one of its provinces and not a separate country.
The legislation, passed by unanimous consent, was sponsored by Senators Bob Menendez, the Democratic chairman of the Senate Foreign Relations Committee, and Jim Inhofe, the top Republican on the Senate Armed Services Committee.
Source: Reuters #Aug07
https://reut.rs/37qxZLe
#US #Taiwan #WHO
Forwarded from 📡Guardians of Hong Kong
#Sports
#Taiwan Will Not Participate in Gay Games hosted by Hong Kong due to the #NationalSecurityLaw
Hong Kong successfully applied for hosting the Gay Games in 2022. It is the first time for the game to be held in Asia.
However, the Taiwan Gay Sports and Movement Association (#TGSMA) issued a statement, pointing out that due to possible China's intervention, the TGSMA would not participate in the Gay Games unless Hong Kong authorities can ensure the safety of the athletes.
Agence France-Presse (AFP) quoted Yang Chih-Chun, president of the TGSMA, that after the Hong Kong National Security Law implementation, the authority could use any reason to arrest people, which TGSMA could not ensure the athletes' safety.
Yang Chih-Chun also showed his concerns to AFP that the Taiwanese athletes and staff would be arrested because of waving the Taiwanese flag or competing under the name of "Taiwan".
#GayGame #TGSMA #Taiwan #AFP #NSL #YangCihChun
Source: Stand News #Aug07
https://bit.ly/3xzEWnG
#Taiwan Will Not Participate in Gay Games hosted by Hong Kong due to the #NationalSecurityLaw
Hong Kong successfully applied for hosting the Gay Games in 2022. It is the first time for the game to be held in Asia.
However, the Taiwan Gay Sports and Movement Association (#TGSMA) issued a statement, pointing out that due to possible China's intervention, the TGSMA would not participate in the Gay Games unless Hong Kong authorities can ensure the safety of the athletes.
Agence France-Presse (AFP) quoted Yang Chih-Chun, president of the TGSMA, that after the Hong Kong National Security Law implementation, the authority could use any reason to arrest people, which TGSMA could not ensure the athletes' safety.
Yang Chih-Chun also showed his concerns to AFP that the Taiwanese athletes and staff would be arrested because of waving the Taiwanese flag or competing under the name of "Taiwan".
#GayGame #TGSMA #Taiwan #AFP #NSL #YangCihChun
Source: Stand News #Aug07
https://bit.ly/3xzEWnG
Forwarded from 📡Guardians of Hong Kong
China Offers the Taliban a Warm Welcome While Urging Peace Talks
China offered a high-profile public stage to the Taliban on Wednesday, declaring that the group rapidly retaking large parts of Afghanistan would play “an important role in the process of peaceful reconciliation and reconstruction” of the country.
Chinese officials began two days of talks with a delegation of Taliban leaders in Tianjin, a coastal city in northeastern China, significantly raising the group’s international stature after steady military gains that have taken advantage of the withdrawal of American and NATO combat forces from Afghanistan.
Chinese officials began two days of talks with a delegation of Taliban leaders in Tianjin, a coastal city in northeastern China, significantly raising the group’s international stature after steady military gains that have taken advantage of the withdrawal of American and NATO combat forces from Afghanistan.
Source: NY Times #Aug07
https://nyti.ms/38Rfalb
#China #Taliban #Afghanistan
China offered a high-profile public stage to the Taliban on Wednesday, declaring that the group rapidly retaking large parts of Afghanistan would play “an important role in the process of peaceful reconciliation and reconstruction” of the country.
Chinese officials began two days of talks with a delegation of Taliban leaders in Tianjin, a coastal city in northeastern China, significantly raising the group’s international stature after steady military gains that have taken advantage of the withdrawal of American and NATO combat forces from Afghanistan.
Chinese officials began two days of talks with a delegation of Taliban leaders in Tianjin, a coastal city in northeastern China, significantly raising the group’s international stature after steady military gains that have taken advantage of the withdrawal of American and NATO combat forces from Afghanistan.
Source: NY Times #Aug07
https://nyti.ms/38Rfalb
#China #Taliban #Afghanistan
Forwarded from 📡Guardians of Hong Kong
HSBC Senior Executive calls UK's Huawei Ban "Feeble" in Closed-Door Meeting
On August 7, a Bloomberg report revealed that a senior Public Affairs executive at HSBC Holding plc had criticized the British government for yielding to pressure from the US government and banning Huawei from the UK's 5G mobile communication network construction. The executive accused the British Government of being weak.
Subsequent reports from the BBC and The Guardian indicated that the executive apologized through an HSBC spokesperson, clarifying that the comments were made in a private event and do not reflect the stance of HSBC or the China-Britain Business Council.
In an earlier Bloomberg report, which cited anonymous sources, Sir Sherard Cowper-Coles, HSBC's Head of Public Affairs, criticized the British government during a closed-door meeting. He stated that the government often capitulates to US government pressure and complies with US appeals, such as the decision to ban Huawei from the UK's 5G network construction in 2020. This was described as a weak approach.
Source：Points Media, #Aug07
https://points-media.com/159c
#HSBC #UK #HuaweiBan
On August 7, a Bloomberg report revealed that a senior Public Affairs executive at HSBC Holding plc had criticized the British government for yielding to pressure from the US government and banning Huawei from the UK's 5G mobile communication network construction. The executive accused the British Government of being weak.
Subsequent reports from the BBC and The Guardian indicated that the executive apologized through an HSBC spokesperson, clarifying that the comments were made in a private event and do not reflect the stance of HSBC or the China-Britain Business Council.
In an earlier Bloomberg report, which cited anonymous sources, Sir Sherard Cowper-Coles, HSBC's Head of Public Affairs, criticized the British government during a closed-door meeting. He stated that the government often capitulates to US government pressure and complies with US appeals, such as the decision to ban Huawei from the UK's 5G network construction in 2020. This was described as a weak approach.
Source：Points Media, #Aug07
https://points-media.com/159c
#HSBC #UK #HuaweiBan
棱角媒體
於閉門會議批評英政府軟弱 屈服減少與中國合作 匯豐高層道歉 - 棱角媒體
《彭博》報導，英國匯豐銀行一名高層，日前在一個閉門場合中發言批評英國政府屈服於美國政府壓力，禁止華為參與英國 5G 移動通訊網絡建設，做法軟弱。BBC及衛報等英國傳媒報導，涉事高層今日透過匯豐發言人道歉，但強調有關言論是在私人場合中作出，並不代表匯豐或中英貿易協會立場。