Trump admin proposes delisting of Chinese firms failing to meet audit norms

The latest move of Trump Administration is part of its effort to crackdown on Chinese companies

The Trump administration is considering a proposal to crackdown on Chinese companies that are listed in the US and do not follow American audit requirements, according to a media report.

As per the proposal, as reported by The Wall Street Journal, the Chinese companies listed on American stock exchanges like New York Stock Exchange and NASDAQ be subject to audit by US regulators or else they would be delisted.

To comply, Chinese auditors would have to share their work papers with the Public Company Accounting Oversight Board, a specialised audit regulator overseen by the US government, the financial daily said.

Chinese firms that