Chinese firms avert delisting as U.S. audit watchdog gets full inspection access

The U.S. accounting watchdog on Thursday said it has full access to inspect and investigate firms in China for the first time ever, removing the risk that around 200 Chinese companies could be kicked off U.S. stock exchanges, Qazet.az reports.

The statement from the Public Company Accounting Oversight Board (PCAOB) marks a victory for U.S. regulators and a relief for Chinese firms, including Alibaba, facing delisting amid rocky relations between the world's largest economies. Washington and Beijing have been locked in a heated trade and technology war.