On Aug. 4, the Chinese side sent updated proposals concerning the joint inspections to the PCAOB based on the latest needs and ideas of the U.S. side, it said.
"The U.S. has frequently abused state power to wantonly suppress non-American firms under the pretext of national security. This is blatant bullying behavior, which China firmly opposes," the spokesperson said, noting relevant U.S. moves have drawn criticism and doubts from many people within the United States and the international community.
The two sides have maintained communication and interaction, the CSRC said, adding that Chinese authorities have shown full cooperation sincerity by repeatedly communicating with the U.S. Securities and Exchange Commission and the Public Company Accounting Oversight Board (PCAOB) on joint inspections of accounting firms since 2019.
This is a political virus which is understandably questioned and rebuked by people in the United States and the international community, he said.
"Let business become the stabilizer for the relationship," said Ni.
"Wang Yi emphasized that, saying China is willing to restart mechanisms for dialogue with the United States at any level, in any area and at any time. And that is precisely what the Chinese government has done," said Castrillon, who specializes in U.S. and Chinese affairs.
China has never prohibited or prevented relevant accounting firms from offering audit work papers to overseas regulators, the CSRC said.
Starting from common interests of both sides, China and the United States should carry out open dialogue and cooperation, it said.
The China-U.S. relationship needs to be recalibrated, said William Zarit, chairman of American Chamber of Commerce in China, adding that statesmanship is required.
Policymakers have to determine what they really want, said Ni, adding that if they want a constructive result, they cannot use a destructive approach. Enditem
BEIJING, Aug. 6 (Xinhua) -- China has noted that Australia welcomes China's development and hopes that Australia can turn its words into concrete actions, a foreign ministry spokesperson said on Thursday.