U.S. regulators have long sought more transparency from Chinese companies with shares trading on U.S. exchanges, but Beijing has resisted.
More than a decade ago, hundreds of Chinese companies went public in the U.S. via reverse mergers, merging into public but mostly dormant U.S. companies, and many turned out to be frauds.
Efforts to solve the problem are getting more traction due to the escalation of trade disputes with China.