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US-Listed Chinese Companies Surge After China Considers Giving Access to Audits

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Chinese authorities plan to give US regulators full access to audit financial reports of most of the companies listed in New York mid-year to prevent further decoupling.

Source: Yahoo Finance

DIDI: NYSE is up +23.80%, BABA: NYSE is up +6.69%, JD: NASDAQ up +5.39%

The China Securities Regulatory Commission and other national regulators are preparing to draft a framework to allow most Chinese firms to retain their listings.

Meanwhile, the Chinese government is ready to accept that some state-owned corporations and private entities that hold sensitive data will be delisted.

The regulatory framework is anticipated to provide clarity on what data might cause national security concerns. Regulators are discussing whether companies that deal with consumer data, such as Alibaba, would fall into that category.

If the plan progresses, it marks a major reversal by China’s government, possibly ending a decades-long conflict that heightened when the US set a 2024 deadline for delisting non-compliant businesses off US exchanges.

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