Hong Kong (CNN Business) China is extending an olive branch to the United States in a bid to prevent Chinese firms from being kicked off the US stock market. a decade-old rule that forbids Chinese firms from sharing sensitive data and financial information with overseas regulators. The China Securities Regulatory Commission, the country's top securities watchdog, has proposed changinga decade-old rule that forbids Chinese firms from sharing sensitive data and financialinformation with overseas regulators. That could end a dispute between the two countries that threatened more than 200 Chinese firms with possible expulsion from the New York Stock Exchange or Nasdaq. In the new draft rule published Saturday, the regulator struck out a requirement that examination of the financial documents of overseas-listed Chinese firms must be "mainly conducted by Chinese regulatory agencies."

Source: CNN April 05, 2022 01:50 UTC