An ongoing battle between the American Securities and Exchange Commission and China over whether Chinese accounting firms can release accounting information required by US law or whether these constitute "state secrets" is pushing China and the United States into conflict in global capital markets, threatening to force the US agency responsible for overseeing capital markets to effectively de-list all Chinese companies.

Joining Jeremy Goldkorn to look at this issue, sparked by an SEC investigation into potential investor fraud which wiped out sixty one percent of Chinese and Hong Kong stocks traded in the U.S. markets since 2011, is Paul Gillis, an adviser to the U.S. Public Company Accounting Oversight Board and professor at Peking University Guanghua School of Management. We are also delighted to have Patrick Chovanec from Tsinghua University come back to contribute to this discussion as well.

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