In Depth: Luckin Scandal Highlights Shortcomings in Cross-Border Regulation

The shock fraud disclosure by Nasdaq-listed Chinese coffee shop chain Luckin Coffee Inc. has dealt a further blow to the reputation of Chinese companies listed overseas and dented the confidence of international investors. It has also triggered another wave of debate over the longstanding problems with the regulation of cross-border audits and punishment of auditors, intermediaries and companies involved in wrongdoing.