China Securities Regulatory Commission: Will create conditions to promote Sino-US audit supervision cooperation to stabilize policy expectations and institutional environment | Reuters

Reuters, Beijing, August 20-The China Securities Regulatory Commission held a systemic mid-year supervision work meeting on Friday and pointed out that it will coordinate development and security, and steadily introduce policies and measures to further expand the opening up of the capital market; at the same time, it will create conditions to promote Sino-US audit supervision cooperation and strengthen Market communication, stabilizing policy expectations and institutional environment.

The SFC website press release (here) also stated that it is necessary to deepen the interconnection between the mainland and Hong Kong markets and firmly support the stable development of the Hong Kong capital market.

“Strengthen macroscopic research and judgment, strengthen the prevention and resolution of spillover, import and cross-over risks, and more prominently stabilize expectations,” the press release said, preventing secondary financial risks arising from the disposal of risks in other areas and striving to maintain the smooth operation of the market.

At the same time, continue to steadily and orderly resolve risks in key areas such as private equity funds and bond defaults; improve the public opinion guidance mechanism of the capital market and actively create a good external environment.

The top U.S. securities regulator took measures in late March. If foreign companies do not comply with U.S. audit standards, they will be delisted from the U.S. stock exchange and require them to disclose any government-related information.

In response to the delisting of China’s concept stocks, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, stated at the Boao Forum for Asia in April that the China Securities Regulatory Commission will unswervingly promote China-US financial cooperation. It is normal for some problems in the process of cooperation; I hope the new US government Re-emphasize China-US financial cooperation. As long as both parties are sincere, they can find a way to solve the issue of China-US audit supervision cooperation. (Finish)