In an attempt to end the stalemate between China and the United States over audits of publicly traded Chinese companies listed on U.S. exchanges, China has reportedly proposed to allow U.S. regulators to conduct a trial joint inspection of a state-owned enterprise (SOE).
Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC), told Bloomberg News that the CSRC this month proposed to the U.S. Public Company Accounting Oversight Board (PCAOB) that U.S. authorities “could pick any of its SOEs for a trial joint inspection.”
