US to call for greater scrutiny of Chinese cos
11 August 2005
A Washington committee that investigates national security issues in connection to China on behalf of the US Congress is expected to call on Thursday for greater scrutiny of Chinese companies listed in the US and other global capital markets, the Financial Times reported. Roger Robinson, vice-chairman of the US-China Economic Security and Review Commission, told the newspaper that US regulators including the Securities and Exchange Commission needed to adopt an "enhanced effort" to "encourage" Chinese corporate governance practices. Thursday's hearing, which is to feature testimony from a variety of China experts, will explore the strengths and weaknesses of the Chinese banking sector and whether Chinese banks are "subsidising" firms with ties to the "military and weapons proliferators".
