Excerpt:

Over the coming months, at least initially, issuers from China are likely to be smaller companies outside of restricted industries without sizable amounts of consumer data. They are likely to avoid using the VIE structure and be audited by smaller, U.S.-based firms already inspected by the PCAOB. That would allow them to avoid the prospect of forced delisting a few years down the road.

If the U.S. and China could demonstrate progress in resolving these critical but somewhat arcane audit issues, it would be a hopeful sign for finding common ground on a range of more prominent topics vital to our shared future.

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