Auditors' Chinese branches accused of breaking US law (3)

China-based companies listed on US exchanges have faced increased scrutiny over the past two years because of suspicions they were providing inaccurate financial statements to investors.

Only two companies have completed an initial public offering in the US so far this year, compared with 11 last year.

"The US market is almost frozen for Chinese IPOs this year," said Zhang Qi, a researcher with Zero2ipo.

"The trust of foreign investors in Chinese firms has yet to recover."

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