The China Securities Regulatory Commission denies the prohibition of overseas listing of VIE-structured companies
2021-12-06 10:05:35Source: Beijing Daily
Report from our newspaper (Reporter Sun Jie) The US Securities and Exchange Commission (SEC) recently announced the implementation details of the “Foreign Company Accountability Act”, and individual companies announced the start of delisting from the US, which aroused widespread market concern. The China Securities Regulatory Commission stated yesterday that individual media reports that Chinese regulatory authorities will prohibit agreement-controlled (VIE) enterprises from listing overseas and promote the delisting of Chinese companies listed in the United States are completely misunderstandings and misunderstandings.
According to the China Securities Regulatory Commission, the China Securities Regulatory Commission and relevant regulatory authorities have always maintained an open attitude towards companies choosing overseas listing locations, and fully respected companies’ independent choice of listing locations in accordance with laws and regulations. Recently, individual media reports that Chinese regulatory authorities will prohibit agreement-controlled (VIE)-structured companies from listing overseas and promote the delisting of Chinese companies listed in the United States. This is a complete misunderstanding and misunderstanding. At present, some domestic companies are actively communicating with domestic and foreign regulatory agencies to promote listing in the United States.
In terms of China-US audit supervision cooperation, the China Securities Regulatory Commission has recently conducted candid and constructive communications with regulatory agencies such as the US SEC and the US Public Company Accounting Oversight Board (PCAOB) on solving problems in the cooperation, and promoted some key issues. Positive progress has been made in cooperation. However, in recent years, some political forces in the United States have politicized capital market supervision, suppressed Chinese companies listed in the United States for no reason, and forced Chinese companies to delist. This not only violates the basic principles of market economy and the concept of the rule of law, but also harms the interests of global investors. And the international status of the U.S. capital market.
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