$UP Fintech (TIGR.US)$$Futu Holdings Ltd (FUTU.US)$ On Marc...

On March 31, the head of the International Department of the China Securities Regulatory Commission issued an answer to reporters' questions before the market, reporting on the progress of Sino-US audit and supervision cooperation, and responding to the fact that some Chinese companies were included in the delisting risk list by the US Securities Regulatory Commission.

The head of the international department of the China Securities Regulatory Commission said that the Chinese side and the US Public Company Accounting Supervisory Board (PCAOB) have also held many rounds of frank, professional and efficient talks. Overall, progress has been smooth, and communication between the two sides will continue. Both sides are willing to resolve their differences and problems. The final outcome depends on the wisdom and original intentions of both parties.

Regarding some companies being included by the SEC on the list at risk of delisting, the China Securities Regulatory Commission said that after learning from the US SEC, this is a normal procedure for the US regulatory authorities to implement the “Foreign Company Accountability Law”. Whether the companies included in the list will actually be delisted in the next two years will ultimately depend on the progress and results of the audit and supervision cooperation between China and the US.

LOOK! This is a normal procedure for US regulators to enforce the Foreign Company Accountability Act. Don't get carried away by big fish!