Chinese companies need to comply with a law passed in 2020 that requires companies to open their audit files or face being delisted from U.S. markets.
China is reportedly preparing a plan in an effort to keep Chinese companies from being delisted from U.S. financial markets.
The strategy is to sort companies into groups based on the sensitivity of the data they hold, according to the Financial Times. It's an attempt to bring the businesses in compliance with U.S. rules that require public companies to allow regulators to inspect their audit files.The three categories would be divided according to non-sensitive data, those with sensitive data and others with "secretive" data, which would have to delist.
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