Chinese companies switched from Chinese to U.S. and Singapore auditors to avoid U.S. delisting risk

The allure of the U.S. capital markets! It is not easy for for control freak communists to create and maintain free wheeling stock exchanges, the bedrock of capitalism!

"More than a dozen U.S.-listed Chinese companies have switched from auditors in their home country to ones in the U.S. and Singapore since 2022 ...

Under a 2020 law called the Holding Foreign Companies Accountable Act (HFCAA), Chinese companies can be delisted if their auditors fail to comply with U.S. accounting standards. Those requirements include allowing inspections of auditors by the Public Company Accounting Oversight Board (PCAOB). ..."

Chinese companies switch auditors to avoid U.S. delisting risk - Nikkei Asia American, Singapore companies gain business as accountant inspections begin