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 China Insider With David Zhang
A gamer in #China allegedly jumped from a building after a Chinese team won in a #VideoGame tournament. Some speculate he was celebrating the victory. But is a video game really worth the life risk? This comes just a few months after the CCP called the gaming industry “digital opium.”
Meanwhile, national security adviser Jake Sullivan talked about President Joe Biden’s #ChinaPolicy on a CNN interview. How does Biden’s policy compare with Trump’s, and which one will work better?
🔥Watch here👉https://youtu.be/F0GnV6HbKxg
Meanwhile, national security adviser Jake Sullivan talked about President Joe Biden’s #ChinaPolicy on a CNN interview. How does Biden’s policy compare with Trump’s, and which one will work better?
🔥Watch here👉https://youtu.be/F0GnV6HbKxg
YouTube
Biden's China Policy: CNN's Interview With Jake Sullivan Explained; Xi Jinping Third Term Set?
Some extreme forms of celebration occurred in China after a Chinese team won in a video game. I tell you how this reflects a broader problem in China’s society. This comes as a popular video game contest is won by a Chinese team over a South Korean team.…
Forwarded from China in Focus - NTD
The #SecretaryofState gave a long-awaited speech, explaining the #BidenAdministration’s #ChinaPolicy. What did he say, and what questions still remain?
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www.theepochtimes.com
How China’s Push for AI Weapons Threatens the World
Killer robots: the stuff of science fiction. But it's becoming all too real. There's a race for artificial ...
Forwarded from China in Focus - NTD
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A former United States trade representative says Washington's #ChinaPolicy needs to change and that "an incremental shift is not enough."
⭕️ Watch the full episode 👉https://ept.ms/100BChineseBonds
⭕️ Watch the full episode 👉https://ept.ms/100BChineseBonds