US Regulators Reach China For Audit Deal Discussions: Reuters

U.S. regulatory officials arrived in Beijing seeking to settle a long-running dispute over the auditing compliance of U.S.-listed Chinese firms, Reuters reported, citing sources.
The stand-off, if not resolved, could see Chinese firms kicked off New York bourses. This week the SEC added over 80 firms to the list of companies facing possible expulsion.
Related: JD, Nio, Pinduoduo Among 80 Chinese Companies Identified By SEC For Potential Delisting: What Investors Should Know
The talks between officials from the U.S. Public Company Accounting Oversight Board (PCAOB) and their counterparts at the China Securities Regulatory Commission (CSRC) can be described as 'late stage' after China made concessions in recent months, stated the people.
If this visit goes as planned, the PCAOB will likely send a larger team to China later this year to conduct on-site audits of local auditors, according to the source.
As of Friday, the PCAOB identified 128 Chinese firms as at risk of being delisted.
Goldman Sachs estimated in March that U.S. institutional investors held around $200 billion worth of Chinese ADRs.
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