(Focus on Boao) Vice Chairman of China Securities Regulatory Commission responded to Sino-US audit supervision cooperation: very confident that an agreement will be reached in the near future

  China News Service, Boao, April 21 (Reporter Wang Enbo) Fang Xinghai, vice chairman of the China Securities Regulatory Commission, revealed at the 2022 Boao Forum for Asia Annual Conference on the 21st that the Sino-US audit supervision cooperation negotiation is progressing very smoothly, and he is confident that in the near future reach an agreement.

  At the end of March, the China Securities Regulatory Commission stated that China and the US Public Company Accounting Oversight Board (PCAOB) had several rounds of candid, professional and efficient talks on the issue of China-US audit supervision cooperation.

Both sides are willing to resolve differences and problems, and the final result depends on the wisdom and original intentions of both sides.

  Fang Xinghai revealed at the Boao Forum for Asia that the negotiation between the Chinese negotiating team led by the China Securities Regulatory Commission and the U.S. side is progressing very smoothly, basically every other week through video negotiation, and some details will be implemented.

  He said that he is confident that the two parties will reach a cooperation agreement in the near future, so that the PCAOB can reasonably, reasonably and legally conduct inspections of Chinese accounting firms engaged in auditing Chinese stocks in China.

  "Uncertainty will be removed soon, which will be good news for Chinese stocks," Fang Xinghai said.