Recently, in the online seminar on the return of China capital stocks sponsored by China CFO development center, chief financial officer Zeng Yan of Lexin held a discussion with the participants on the recent resurgence of Sino US audit dispute and the second issue of China capital stock. In view of the audit dispute, he believes that China and the United States regulators are seeking solutions. There is no need for excessive panic in the market, and there is little impact on the well-developed China capital stocks. As the only representative of China capital stock enterprises attending the meeting, he said that Lexin’s business is mainly in China. If there is an opportunity to return to China’s capital market, it will actively consider the possibility and pay attention to protecting the interests of investors. On August 10, U.S. Treasury Secretary manuchin said that by the end of 2021, listed companies from China and other countries would have to delist from the US stock exchange if they did not comply with us accounting standards and submitted audit papers to the public company accounting oversight board (PCAOB). This is the latest dispute between China and the United States on the handling of audit manuscripts of China capital stock since 2002, and has aroused the concern of the capital market once again. < / P > < p > “audit disputes do not occur for the first time. Every time they occur, the market panics at the beginning, and the information is gradually digested later. The actual situation is not as bad as it seems. One performance is that a large number of enterprises still go to the U.S. stock market after assessing their earnings and risks. In addition, both the US president’s financial market working group’s suggestions on the handling of audit disputes and the positive response of the China Securities Regulatory Commission can be seen that both sides are trying to solve the problem. ” Zeng Yan said. As a listed company in the United States, we will pay close attention to the development of the situation and protect the interests of investors in a timely manner. Our business entities are in China and are very confident in the development of China’s consumer and capital markets and are willing to contribute to their development. ” Zeng added. China and the United States are actively exploring ways to solve the audit disputes. Previously, the U.S. presidential Working Group on financial markets, which was presided over by Mr. mnuchin, proposed that if the PCAOB could not obtain the audit manuscript due to the restrictions of the non cooperative jurisdiction (NCJ) government, it could conduct a joint audit through an audit firm recognized by the PCAOB. On August 4, the Chinese regulatory authorities sent an updated proposal to the other side according to the latest needs and ideas of the US side. According to statistics, as of the end of July, the number of Chinese enterprises listed on the New York Stock Exchange and NASDAQ has reached 29 since the end of July, compared with only 9 in the same period of last year; the listed companies include Jinshan Yunda ideal Automobile Co., Ltd. These companies have raised a total of US $2.9 billion, an increase of nearly 30% over the same period last year. < p > < p > talking about the return path of China capital stocks, Zeng Yan pointed out that the first path is to return to a shares after delisting. However, this process is long and needs to be carefully selected considering many factors such as the change of actual controllers, the pace of domestic market review, the capital operation of RMB and US dollar, and the shareholder exit mechanism. The second is the secondary listing of Hong Kong stocks, which is the Hong Kong stock exchange One of the innovations is to make it convenient for enterprises to trade in the two capital markets at the same time, which not only guarantees the interests of existing investors, but also allows local investors the opportunity to participate. In the current special period, the existence of this option solves most investors’ concerns that China capital stocks are restricted by the U.S. capital market. Since the beginning of this year, Jingdong Netease and other leading Chinese companies have successfully listed in Hong Kong for the second time. Deloitte expects six to nine more Chinese capital stocks to be re listed in Hong Kong this year, including Parkson China and Huazhu group. < / P > < p > it is reported that the secondary listing of China concept shares in Hong Kong must meet certain conditions, including two consecutive years of listing in the United States, a market value of more than HK $10 billion, and the past fiscal year’s revenue of more than HK $1 billion. Its own business model is innovative. However, only about 10% of the more than 200 companies in the United States may meet the requirements. Among them, UBS group, CITIC Lyon and other investment banks have pointed out that Lexin is the only company that may meet the requirements of Hong Kong’s secondary listing in China’s financial technology listed in the United States. On August 1 billion users announced a breakthrough.