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Trump administration to end audit deal underpinning China's stock listings in U.S

Added 07-13-20 10:04:02pm EST - “The Trump administration plans to soon scrap a 2013 agreement between U.S. and Chinese auditing authorities, a senior State Department official said, a move that could foreshadow a broader crackdown on U.S.-listed Chinese firms under…” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Trump administration to end audit deal underpinning China's stock listings in U.S”. Below is an excerpt from the article.

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Atlas Organization founder Jonathan Ward argues the U.S.-China relationship has reached a turning point.

WASHINGTON  - The Trump administration plans to soon scrap a 2013 agreement between U.S. and Chinese auditing authorities, a senior State Department official said, a move that could foreshadow a broader crackdown on U.S.-listed Chinese firms under fire for sidestepping American disclosure rules.

The deal, which set up a process for a U.S. auditing watchdog to seek documents in enforcement cases against Chinese auditors, was initially welcomed as a breakthrough in U.S. efforts to gain access to closely guarded Chinese financial information and bestowed a mark of legitimacy on Chinese regulators.

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