CHINESE COMPANIES ACCOUNTING PRACTICES PROBED BY USA

The U.S. Justice Department is investigating accounting irregularities
at Chinese companies listed on the U.S. stock exchanges, Reuters
reported Thursday, citing Robert Khuzami, director of enforcement at
the Securities and Exchange Commission.

Khuzami declined to name which companies or auditors were being
investigated, but suggested criminal charges may be brought in
addition to civil proceedings, the report on the Reuters website said.

SEC officials and the Public Company Accounting Oversight Board, will
meet with their Chinese counterparts in Washington, D.C. in October
for a second round of talks on joint inspections of auditing companies
in China.