Chinese firms avert delisting risk as U.S. watchdog gets ‘full access’ in audit inspections

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Reuters

By Chris Prentice, Xie Yu and Susan Heavey NEW YORK/HONG KONG/WASHINGTON (Reuters) -The U.S. Public Company Accounting Oversight Board on Thursday said it has gotten full access to inspect and investigate firms in China for the first time ever, removing the risk that around 200 Chinese companies could be kicked off U.S. stock exchanges. The statement from the PCAOB, the U.S. accounting watchdog, marks a victory for U.S. regulators and a relief for Chinese firms, including Alibaba, facing delisting amid rocky relations between the World’s largest economies. Washington and Beijing have been lock…

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