China's top securities regulator and relevant regulatory authorities have conducted “candid, professional and efficient talks” with their US counterparts to resolve differences, with the final outcome depending on the “wisdom and original aspiration of both sides,” a spokesperson with the securities watchdog said Thursday.
The remarks came after the United States Securities and Exchange Commission (SEC) Chair Gary Gensler referred to the ongoing negotiations on China-US audit oversight cooperation as “thoughtful, respectful, productive conversations” in a recent interview.
Since August last year, China Securities Regulatory Commission (CSRC) head Yi Huiman and SEC chair Gary Gensler have held three video conferences to discuss resolving the remaining issues in China-US audit oversight cooperation, said a spokesperson with CSRC on Thursday.
“In particular, the Chinese side has conducted several rounds of candid, professional and efficient communications with the US Public Company Accounting Oversight Board, which have generally gone smoothly and such communication will be continued,” the spokesperson said.
The spokesperson noted that both sides have been willing to resolve differences and problems. “The final outcome depends on the wisdom and original aspiration of both sides,” the spokesperson added.
Talking about the risk of delisting from US stocks faced by some Chinese enterprises, the spokesperson said, according to the SEC, this is a normal procedure for the US regulatory authorities implementing the Holding Foreign Company Accountability Act.
Whether the listed companies will be delisted in the next two years will ultimately depend on the progress and results of China-US audit oversight cooperation, the spokesperson noted.
(Compiled by Yang Yang)