The American Minister of Finance, Steven Mnuchin has clarified the intention of the government to ban Chinese companies from American stock exchanges if you follow the accounting rules. The companies have, in the words of the Minister until the end of 2021 the time to bring their balance sheets in order.
Winand von Petersdorff-Campen
Economics correspondent in Washington.F. A. Z.
The Ministry of Finance had submitted to the American securities and exchange Commission, the appropriate recommendation and expected implementation, made Mnuchin significantly. Previously, the Senate had unanimously decided to force Chinese companies to U.S. stock exchanges for the Adoption of the accounting standards.
The move will be interpreted as an attempt, perceived to eliminate imbalances in the commercial relationship between China and the United States. Chinese authorities deny American Supervisory bodies according to their statements, often the insight in the audit reports. An agreement between the two countries stipulates that American auditors can apply for access to the Chinese Authorities. However, the procedure has led, from an American perspective rare to the desired inspection. The Chinese company before but in General, Certificates of the international auditing companies.Updated Date: 12 August 2020, 02:20