The company's actions have elicited strong condemnations from both the U.S. and China, with the China Securities Regulatory Commission (CSRC), China's equivalent of the US SEC, stating, "a listed company, no matter where it is listed, shall strictly abide by the laws and norms of the relevant market and perform its obligation of information disclosure truthfully, accurately and completely 2 ." Increased cooperation regarding the prosecution of those responsible for the Luckin Coffee fraud and increased transparency into audited financial results of US-listed Chinese companies by the PCAOB seem like areas where both sides can find alignment. In the twelve months ended December 31, 2019, 17 PCAOB-registered accounting firms in mainland China and Hong Kong signed audit reports for 188 public companies with a combined global market capitalization (U.S. and non-U.S. exchanges) of approximately $1.9 trillion.