Moody’s red flag report rocks listed China firms

  • Business Premium
  • Wednesday, 13 Jul 2011

HONG KONG: Moody's ratings agency's warnings about accounting and corporate governance risks at dozens of Chinese companies are further dampening market sentiment already fragile because of Europe's debt woes, sending Hong Kong-listed shares plunging.

The Moody's report comes as US and Chinese officials meet in Beijing to discuss joint supervision of China-based audit firms that review US-listed companies.

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