Also in this playlist...
This transcript is automatically generated
-- historic move US Treasury Secretary Jack Lew says China will give the US documents and Chinese companies -- hair.
That have been accused of fraud -- more on this was on -- -- bottom -- let me cynic -- There I don't trust any -- All know that's probably the best course but you know what -- Chinese you have to handle that's a major good daughter here's a problem that's what look what look at this.
Twenty Chinese company so far this year it's 18 have either been delisted halter had their auditor resigned.
So here was a problem investors faced billions of dollars in losses they thought hey we're gonna get -- in the great growing in front of -- story right but the problem was that the Chinese companies were.
Doing some -- glamour there were emerging here with shell companies -- listed.
And we know companies for example that purport to be oil companies my -- oil companies there were actually gas stations we -- -- felt worse Caldwell tells.
Nutrition companies they were selling.
Baby food so here is US Treasury Secretary Jack flew on an historic agreement -- China.
And the United States in which you the US will get more information.
About kind of -- shady.
Chinese companies and their accounting practices here's Jack -- -- security regulator announced that it will begin providing certain requested audit work papers to our market regulators an important step towards resolving longstanding impasse over.
Enforcement cooperation related to companies listed in the United States.
Why this is a big deal because for it.
You won't come out -- say twenty years or more.
DC has one of these dot.
They have wanted to see how these Chinese companies operate that expose us US investors.
To these companies the problem is always spent China has said we've got secrecy laws were not given -- excessively do they have about.
Slowly you know what they want -- adheres -- here's a problem.
US stock exchange is here wanna get those companies could to make a lot of money listing fees right and -- -- Chinese companies want access to our fluid liquid markets and ahead of those who.
And so it's twofold here this is a big move whether or not protects investors Canada aviation -- to be seeing Heidi -- Me and Plymouth slammer and -- -- can look it up that hospital under the China.
Filter by section