China plans to remove hurdle to Sino-US audit cooperation

China plans to remove hurdle to Sino-US audit cooperation

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington. REUTERS/Jonathan Ernst/File Photo/File Photo

China on Saturday proposed revising confidentiality rules involving offshore listings, removing a legal hurdle to Sino-U.S. cooperation on audit oversight while putting the onus on Chinese companies to protect state secrets.