The person in charge of the China Securities Supervision Commission answered the reporter's question on the administrative penalty case of PwC

On September 13, the China Securities Regulatory Commission recently issued an administrative penalty decision on the case of PricewaterhouseCoopers Zhongtian Accounting Firm (Special General Partnership) for failing to perform due diligence in the audit work of Evergrande Real Estate Annual Report and Bond Issuance. The relevant person in charge of the China Securities Supervision Commission answered a reporter's question on the investigation and handling of the case and related circumstances. How does the punishment against PricewaterhouseCoopers reflect the "long teeth and thorns", the edges and angles, and the response to market and social expectations? A: First, confiscate all business income. I will determine that the business income collected under the above items of 27.74 million yuan is illegal business income according to law, and confiscate all of them according to law; second, impose a top fine. In accordance with the "Securities Law of the People's Republic of China", I will impose a total fine of 277.40 million yuan on PwC for "no penalty ten" for illegal business income, and a maximum fine of 5 million yuan and a total fine of 20 million yuan for each of the four uncharged bond issuance audit services. The total fine and confiscation of PwC is 325 million yuan, which is close to the sum of the fines and confiscations of more than 50 illegal accounting firms in the previous three years.