Chinese Regulators Ask Some U S Listed Firms To Prepare For Audit Disclosures
According to sources, Chinese regulators have asked some of the country’s U.S.-listed companies, including Alibaba, Baidu, and JD.com, to prepare for more audit disclosures as Beijing ramps up efforts to keep domestic companies listed in New York. This comes as China’s regulators consider allowing their US counterparts to inspect audit working papers of some Chinese firms that do not collect sensitive data, according to two sources. As part of that move, the China Securities Regulatory Commission (CSRC) and other regulatory agencies summoned top internet companies earlier this month, including search engine leader Baidu Inc and e-commerce behemoth JD....