In the long-standing dispute between the USA and China over the lack of transparency in Chinese public companies, a solution is in sight. It is a first step to prevent the forced delisting of around 200 Chinese companies from US stock exchanges. The US accounting police PBAOC should have access to the audit documents of Chinese companies listed in the US. Regulatory authorities of both countries signed a preliminary agreement on Friday.
The Nasdaq Golden Dragon Index, which includes 72 US-listed China stocks, is up more than 10 percent since Thursday when rumors of the impending deal emerged. Investors previously feared a deal could be delayed amid rising tensions between China and the United States. This caused a real sell-off in China stocks in the US in March.
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