China

The Chinese real estate company's revenue overstatement dwarfs that of Luckin Coffee Inc. and Enron Corp., dealing a blow to the reputation of its former auditor PricewaterhouseCoopers and the country's financial oversight.

The proposal would eliminate so-called double taxation of Taiwanese workers and firms in America.

The deal saved hundreds of Chinese companies in the U.S. from being booted off American stock exchanges but has done little to revive the flow of initial public offerings.

LC Lawyers, the Hong Kong law firm member of the Big Four auditor's global network, will cease operations on Jan. 23.

The guidelines set a 25% ownership threshold for a company or group to be classified as a foreign entity of concern.

The board levied penalties against three firms in China, including member firms of PricewaterhouseCoopers that it found were improperly sharing answers to exams.

Regulators are conducting tax audits and reviewing land use by Foxconn, the Taiwanese company that makes the vast majority of iPhones at factories in China.

The Kentucky senator plans to block legislation to reduce double taxation for those involved in U.S. and Taiwan cross-border investment.

He reiterated that American officials must be able to review the audit papers of Chinese companies that trade in the U.S.

A draft of legislation aims at reducing double taxation for employees and businesses involved in cross-border investment between the two countries