Alibaba Gets Threats from Biden Regulators
NEWSBLURB:
Exclusive – U.S. regulators to vet Alibaba, other Chinese firms’ audits – Sources By Reuters
From www.investing.com
2022-08-30 13:26:37
Reuters
Excerpt:
U.S. regulators have selected e-commerce giant Alibaba (NYSE:) Group Holding Ltd and other U.S.-listed Chinese companies for audit inspections starting next month, three sources familiar with the matter said.
The move follows Friday’s landmark audit deal between Beijing and Washington allowing U.S. regulators to vet accounting firms in mainland China and Hong Kong, potentially ending a long-running dispute that threatened to boot more than 200 Chinese companies from U.S. stock exchanges.
Alibaba has been notified that it is among the first batch of Chinese companies whose audits will be inspected by the U.S. audit watchdog – Public Company Accounting Oversight Board (PCAOB) – in Hong Kong, the sources told Reuters.
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Paul Collier
Paul Collier is the editor of The Freedomist newsite, our Weekday Reports, and our Monthly Publication, Freedomist Intelligence Advisor (previously McAlvany Intelligence Advisor). He has been involved in news publishing since 2003.
