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Very smart FT article on the new rules issued by #China's Security Regulatory Commission by Craig Coben: Don't you want a VIE, baby? ft.com/content/cba55a…
Challenging the claim that the new CSRC rules are a signal “reopening the avenue of fundraising after a 20-month obstruction,” Coben rightly points out "this is less a U-turn and more a reassertion of state power."
After agreeing in Dec. to allow the US's PCAOB “complete access” to the audit papers of US-listed Chinese companies in compliance with the Holding Foreign Companies Accountable Act, the CSRC is introducing its own controls.
