China’s securities regulator proposes closer cooperation with the US – Caixin

In an interview with the Chinese business magazine Caixin, Yi Huiman, Chairman of the China Securities Regulatory Commission (CSRC) noted that he proposed closer cooperation with the US in cracking down on securities fraud, per Reuters.

Yi said that he “hopes the US side refrains from politicizing the issue.”

Key quotes

“More importantly, we should establish a high degree of mutual trust between regulators through adequate communication and coordination, and on the basis of that, jointly set up a law enforcement mechanism against cross-border securities misdeeds.”

“I think that under the current political atmosphere, PCAOB (US Public Company Accounting Oversight Board) could be under some pressure... We welcome the PCAOB to sit down with us to talk at any time.”