Two departments: each year conduct a comprehensive evaluation of the accounting firms for H-shares. Firms that no longer meet the basic requirements will have their recommendations revoked.

On November 21st, the heads of relevant departments of the Ministry of Finance and the China Securities Regulatory Commission answered questions from reporters on the "Notice on the List of Accounting Firms Engaged in the Audit Business of H-share Companies." It was mentioned that the Ministry of Finance and the China Securities Regulatory Commission will strictly manage accounting firms approved to engage in the audit business of H-share companies according to regulatory requirements in Mainland China and Hong Kong, ensuring that they continue to meet auditing recommendations and complete H-share company audits with high quality. The ongoing conditions review. The recommendation is not a "lifetime system" and is not permanently valid. The Ministry of Finance and the China Securities Regulatory Commission will improve the dynamic management of the list and market exit mechanism, conduct a comprehensive evaluation of H-share accounting firms annually in conjunction with securities business filings and practice quality inspections. For those that no longer meet the basic requirements of the Notice, the Ministry of Finance and the China Securities Regulatory Commission will withdraw the recommendation. The original text is as follows: Heads of relevant departments of the Ministry of Finance and the China Securities Regulatory Commission answer questions on the "Notice on the Supplementary Work of the List of Accounting Firms Engaged in the Audit Business of H-share Companies" In order to implement the relevant spirit of the "Opinions of the General Office of the State Council on Further Regulating the Order of Financial Audits and Promoting the Healthy Development of the Certified Public Accountant Industry" (Guo Ban Fa [2021] No. 30), and promote the healthy development of the certified public accountant industry in Mainland China and Hong Kong, and to serve the construction of the Hong Kong International Financial Center and the high-quality development of the national economy, the Ministry of Finance and the China Securities Regulatory Commission recently jointly issued the "Notice on the Supplementary Work of the List of Accounting... If you want to read more, visit: https://www.gmteight.com/a/c-rBq6FBOqmYGB_RESPONSE_METHOD=json&RESPONSE_DATE=2022-05-24