The UK accounting regulator is considering changes to strict auditing rules to encourage more Chinese companies to list in London in response to a government push to revive the City’s flagging stock market.
The change, put forward by the Financial Reporting Council on Monday, would permit Chinese-registered entities to employ domestic auditing standards when they use London to offer global depositary receipts — securities that allow investment in companies listed overseas.
It comes amid growing anxiety about the waning attractiveness of the UK’s equity markets for companies and investors in comparison to Wall Street.
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