Category: Huarong

Big Four Accounting Firms Out of Favor in China: Deloitte’s Beijing Office Penalized

April 8, 2023
big fourChinaChina Business & EconomyChinese RegimedeloitteHuarongPCAOBRYB EducationThreat from Communist ChinaU.S. Securities and Exchange Commission (SEC)US-China relations
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News Analysis Deloitte, the accounting firm that was fined $20 million by the U.S. Securities and Exchange Commission (SEC) for shielding Chinese companies from U.S. oversight, has been hit with a fine of more than $30 million by the Chinese Communist Party (CCP). How did Deloitte find itself in this awkward position between the two…

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China Huarong in Talks With Investors After $16 Billion Loss

August 30, 2021
Business & EconomyChinaHuaronginvestors
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SHANGHAI—China Huarong Asset Management Co., Ltd., a state-owned asset management company, sought to turn the page on a deep annual loss on Monday, as its chairman said it was in talks with potential new strategic investors alongside a CITIC-led (CITIC Group Corporation Ltd.) consortium. Wang Zhanfeng, on a call a day after releasing earnings results,…

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