Officials from China and the US are close to an agreement that could allow the latter to inspect audits of US-listed Chinese firms, resolving an issue that has threatened to see some of China’s biggest companies delisted from US stock markets, The Wall Street Journal reported on Thursday. Under the proposal, accounting regulators from the US could travel to Hong Kong to review audit records of US-listed Chinese firms, people familiar with the matter told the Journal. China is already making arrangements for the firms to transfer audit record files and data from the mainland to Hong Kong for an on-site inspection that could happen as soon as next month, the sources added. Over 200 Chinese firms on US stock markets face possible delisting, including tech giants Alibaba, JD, and Baidu. [The Wall Street Journal]
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