Reuters exclusively reported that U.S. regulators have selected Alibaba, JD.com, Yum China and other U.S.-listed Chinese companies for audit inspections starting next month. PwC, Deloitte and KPMG, the respective accounting firms of Alibaba, JD.com and Yum China, have also been informed of the audit work inspection. The move follows last Friday’s landmark audit deal between Beijing and Washington allowing U.S. regulators to vet accounting firms in mainland China and Hong Kong, potentially ending a long-running dispute that threatened to boot more than 200 Chinese companies from U.S. stock exchanges. U.S.-listed shares of Alibaba fell nearly 3% after Reuters revealed the news.
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