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Bloomberg
US lawmakers ratcheted up pressure on Chinese companies whose shares list on American stock exchanges to be more transparent with their financial audits.
Congress passed legislation to speed up the timeline for kicking companies off the New York Stock Exchange and Nasdaq if Washington regulators can’t fully review their audit work
papers. After months of high-stakes drama, the tension eased when the Public Company Accounting Oversight Board said it gained sufficient access to audit documents from firms in China and Hong Kong for the first time.
Still, officials said they would continue to review the situation and could change their determination — a threat made more serious by the provision.