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US audit team gets full access to Chinese firms in HK

US inspectors will be granted full access to audit work papers needed to prevent US delistings by companies whose local offices are in Central, Hong Kong. The Public Company Accounting Oversight Board has been granted access to e-commerce giant Alibaba's office on the 23rd floor of Prince's Building. A number of Chinese companies looking to list in the US are expected to rise pretty dramatically in the coming month as the United States and China appear closer to resolving the audit dispute. Nasdaq vice chairman Bob McCooey, who does business development in the Asia Pacific, said that the exchange still has a pretty strong pipeline in the region now that the situation is beginning to become a little clearer in that market.

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