China Securities Watchdog Says It Expects Audit Deal with U.S Regulators Soon

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China's securities watchdog is holding regular talks with U.S. regulators over audit cooperation and expects a deal soon, a Chinese regulatory official said on Thursday about a dispute that could lead to delistings of U.S.-listed Chinese companies, Reuters reported. The comments by Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC), represent the latest gesture from Beijing that it is willing to solve the long-standing dispute with Washington. "Currently, we basically conduct negotiations via video link every two weeks, to finalise details," Fang told a panel discussion at the annual Boao Asia Forum. "I'm very confident that we will reach an agreement in the near future, so that PCAOB could conduct checks on Chinese accounting firms in China in a reasonable way. This uncertainty will be removed soon, and this will be good news for Chinese stocks listed overseas." Read more.
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