Q: What is the CSRC’s comment on the recent concerns of the US Securities and Exchange Commission (SEC) chairman on China-US audit supervision cooperation?
A: We have noticed that the US SEC chairman has recently In an interview with the media and TV, he expressed his position on the audit and supervision cooperation between the two sides. As Mr. Gensler stated, there was a thoughtful, respectful and productive dialogue between the regulators on both sides. Since last August, Chairman Yi Huiman of the China Securities Regulatory Commission and Chairman Gensler have held three video conferences to discuss and resolve the remaining issues in the audit and supervision cooperation between China and the United States. The Chinese side has had several rounds of candid, professional and efficient talks with the American Public Company Accounting Oversight Board (PCAOB), and the communication between the two sides will continue. Both sides are willing to resolve differences and problems, and the final result depends on the wisdom and original aspirations of both sides.
In addition, for some companies listed by the SEC as having a risk of delisting, we have learned from the US SEC that this is the implementation of the “Foreign Company Accountability Act” by the US regulatory authorities. It is a normal procedure for the list of companies to be delisted in the next two years, which ultimately depends on the progress and results of the audit and supervision cooperation between China and the United States.
(Original title: The head of the International Department of the China Securities Regulatory Commission answers reporters’ questions)