On 10 March, the US Securities and Exchange Commission (SEC) issued a ruling giving US-listed Chinese companies, including pharma firms BeiGene, Ltd., HUTCHMED (China) Limited and Zai Lab Ltd., three years to switch to accounting firms that can be investigated by Washington regulators, or two years if a pending amendment to the rule is adopted.
The move forms part of a requirement following the passing of a 2020 US law, the Holding Foreign Companies Accountable Act, requiring all Chinese companies on stock exchanges in the country to be subject to the same rigorous accounting and audit scrutiny rules required for US firms