A group of Chinese regulators have told several of the country’s US-listed companies, including JD.com, Baidu and Alibaba, to be ready for further audit disclosures, as Beijing increases efforts to ensure domestic companies remain listed in New York, reports Reuters.
According to Reuters’ sources, this comes as China’s regulators are considering a proposal to allow their US counterparts to inspect audit working papers of some Chinese firms that do not gather sensitive data.
As part of that move, the China Securities Regulatory Commission (CSRC) and other regulatory agencies earlier this month summoned top internet companies, including search engine leader Baidu and e-commerce major JD.com, four sources told Reuters.