Sandra Hanna Comments on U.S.-China Relations as U.S. Gains Access to Audits on Companies in China and Hong Kong in Bloomberg Tax
"China ADR-Delisting Threat Eases as U.S. Gets Access to Audits"
Sandra Hanna discussed the impact of U.S. officials gaining access to audit documents on companies in China and Hong Kong for the first time with Bloomberg Tax. This breakthrough removes the acute threat of delisting for about 200 companies on New York exchanges. After a decades-long standoff between Washington and Beijing, Beijing's willingness to make concessions on audits shows that China and the U.S. can still work together, despite clashing with each other on various issues from semiconductors to national security and human rights. "It's a great first step and an important victory and very significant to show that there are areas where the U.S. and China can have meaningful dialog in an otherwise very tense environment," Hanna said, adding that "[w]e need to continue to have a long-term view and monitor progress closely."