US legislators might support a bill to force Chinese firms listed in the US to let the US stock regulators, the PCAOB, check their files. But those checks will not prevent frauds like those by Luckin as some US senators claim, warns audit expert Paul Gillis on his weblog Chinaaccountingblog. Some predictions on what will happen after the bill has been adopted.Read More →

China is trying to contain a second wave of the coronavirus. Economist Arthur Kroeber looks at what the government wants to do. Unlike other countries, China tries to eradicate the number of cases to zero, whatever it might cost. Even though that is not realistic, it has huge consequences for some consumer good sectors and travel, who might not recover for the time being. An overview of the situation in June.Read More →

China has been banning US regulators at the PCAOB from getting access to information of Chinese companies at US stock markets, as they should do according to US regulations to protect its state secrets. But things are changing, notes auditing expert Paul Gilles at his weblog Chinaaccountingblog. “I suspect that Yi’s comments are a signal that China will back down on this issue, allowing joint inspections with adequate controls to protect state secrets,” writes Gillis.Read More →

Chinese listings at US stock markets got recently under fire. Former US assistant trade representative Harry Broadman looks with some amazement at this market at the International Finance Law Review (IFLR). “After decades of working in China intensively on financial accounting, there is not a single state-owned enterprise I’ve worked on that I can think of that abided by international accounting standards,” Broadman says.Read More →

Shanghai-based VC William Bao Bean used to spend 30-40 percent of his time at planes and airports, now found himself back in an office job in Shanghai after the corona lockdown had ended and explains to CNBC how that may work out.Read More →

China’s government has been trying to phase out shadow banking as a risky form of lending money. But now the country’s economy is hit by a trade war, COVID-19 and other mischiefs, shadow banking might make a return, says financial analyst Sara Hsu at the East Asia Forum.Read More →