China, US audit cooperation is progressing smoothly – state broadcaster

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

In the capital market, China has removed the restrictions on foreign shareholding and deepened the interconnection of domestic and overseas markets, and the US-China audit cooperation is progressing smoothly, according to state broadcaster CCTV. 

In August 2022, the China Securities Regulatory Commission, the Ministry of Finance and the US Public Company Accounting Oversight Board (PCAOB) signed an audit regulatory cooperation agreement, creating a more stable and predictable international regulatory environment for cross-border listings and “we have continued to improve the regulatory system for companies’ overseas listing and kept the channels for overseas listing open, said Wang Dengyong, deputy director of Shanghai Securities Regulatory Bureau,

China has signed bilateral regulatory cooperation MoU with 67 countries or regions’ securities and futures regulators, established regulatory cooperation mechanisms and continuously deepened cross-border regulatory cooperation, and meanwhile “we are continuously strengthening the capability in capital market supervision and risk prevention to promote the stable operation of the market, Wang said.