Chinese Companies must report using SEC reporting standards and be audited in order to trade on the stock exchange. The standards must be appropriate accounting standards for the time and report required.
The wink away deal the Obama Administration put in place on reporting puts an all American investors and other consumers at risk. It also makes American Companies have to play on an uneven field.
No Chinese company or subsidiary with ties to the CCP should be allowed to do business in the US or trade on the US stock exchange.