The Chinese government changed a rule that previously restricted offshore New York Stock Exchange-listed companies' financial data sharing practices, Bloomberg reports. The revised draft rule removed the requirement that on-site inspections were to be conducted by Chinese regulators. The move could clear a key hurdle for U.S. regulators to access auditing reports of the more than 200 companies listed on the NYSE. The U.S. had set a 2024 deadline to remove noncompliant businesses from NYSE and the Nasdaq index.
Full Story