US, China reach landmark audit deal in boon for Chinese tech companies

US, China reach landmark audit deal in boon for Chinese tech companies

The New York Stock Exchange (NYSE) logo is displayed above the trading floor in New York, U.S. Photographer: Jin Lee/Bloomberg

Beijing and Washington took a major step on Friday towards ending a dispute that threatened to boot Chinese companies, including Alibaba, from U.S. stock exchanges, signing a pact to allow U.S. regulators to vet accounting firms in China and Hong Kong.