The Philippines and China have carried out many exchanges in epidemic control, people-to-people exchange and military, said Lorenzana, adding that it is believed that the two countries will gradually resume exchanges in various fields after the pandemic is overcome.
The exchange of information including that of audit work papers should be conducted through regulatory cooperation channels, which is an internationally accepted common practice, the CSRC said. Enditem
Spokesperson Wang Wenbin made the comment at a press briefing in response to a question on Philippine Defense Secretary Delfin Lorenzana's recent remarks on the South China Sea and bilateral relations. Calling such attempts unpopular, Wang said some countries outside the region are trying to stir up trouble and create tension in the region, which go against the will of the regional countries.
On Aug. 4, the Chinese side sent updated proposals concerning the joint inspections to the PCAOB based on the latest needs and ideas of the U.S. side, it said.
Iraq has been suffering fragile health systems due to years of conflicts and violence. Before the Chinese-built lab went into operation, the Central Public Health Laboratory in Baghdad was the only place to conduct PCR testing, facing mounting pressure to test samples across the war-torn country.
While the issues that generate tension between China and the United States are multiple and complex, the issues that unite them are weightier enough to save bilateral ties, he said.
In trade, for example, China has moved to address Washington's concerns, said Castrillon.
The China-U.S. relationship needs to be recalibrated, said William Zarit, chairman of American Chamber of Commerce in China, adding that statesmanship is required.
The so-called "Report on Protecting United States Investors from Significant Risks from Chinese Companies" has recommendations such as enhancing listing standards on U.S. exchanges for access to audit work papers.
"Foreign companies, including European ones, were part of the story of China's development, and we believe they will continue to be part of the successful story of China's development and win-win cooperation," he added.
China has never prohibited or prevented relevant accounting firms from offering audit work papers to overseas regulators, the CSRC said.