On July 3, 2019, a tripartite Memorandum of Understanding (MOU) was signed between the Ministry of Finance of the People’s Republic of China (MOF), the China Securities Regulatory Commission (CSRC) and the Securities and Futures Commission of Hong Kong SAR (SFC).

The signing of the tripartite MOU, which specified arrangements for the SFC to gain access to the audit working papers of Hong Kong accounting firms kept in the Mainland in relation to the audits of Mainland companies listed in HKSAR exchanges, has further enhanced the mechanism for regulatory cooperation among the regulators from the Mainland and HKSAR. This is not only conducive to fully protecting the interests of investors from the Mainland and HKSAR , but would also provide an important guarantee for the healthy development of accounting firms as well as the stability of prosperous financial markets in both places.

Vice Minister Cheng Lihua from MOF and Mr. Ashley Alder, Chief Executive Officer of SFC attended the ceremony and delivered speeches. A written statement was received from Mr. Fang Xinghai, Vice Chairman of CSRC.