U.S.-China accounting deal will merely mark a short truce

Neither side has much incentive to make a real effort at compromise

Andrew Collier

September 19, 2022 05:00 JST

A Chinese flag flies outside the New York Stock Exchange: Beijing is desperate to make sure that its companies can access American markets through initial public offerings. © Reuters

Andrew Collier is China country analyst for emerging markets research provider GlobalSource Partners. He was previously president of Bank of China International USA.

Inspectors from the U.S. Public Companies Accounting Oversight Board are due to begin reviewing the audit records of Alibaba Group Holding, Yum China and other Chinese companies listed in New York this week in Hong Kong under an agreement reached last month to avert the ejection of some 260 stocks from U.S. markets.