PwC: The business restrictions imposed by the Hong Kong Financial Services and the Treasury Bureau will not affect the firm's existing clients.

PwC issued a statement acknowledging that their previous audit work for Evergrande fell far below the high standards the company has consistently upheld and the expectations of stakeholders. Resolving these regulatory matters is an important step, and they are pleased that the issue is now coming to a close. Over the past two years, PwC China has decisively taken accountability and corrective actions, implementing a comprehensive plan to improve corporate culture, quality, and governance, including appointing new management and closing related audit offices. The business restrictions imposed by the Hong Kong Financial Services and the Treasury Bureau will not affect the firm’s existing clients; the restrictions only apply to our inability to take on new audits of Hong Kong public interest entities within six months. (Cailian Press)