China's regulators approve five foreign auditors

Five auditing companies with foreign partners have been included in a list of firms approved by China's regulators to conduct financial audits, People's Bank of China said Tuesday.

In a notice posted on its website, the central bank and the ministry of finance announced the first group of 68 audit firms which have passed a new qualifications standard.

Ernst & Young, Arthur Andersen, KPMG Peat Marwick, Deloitte Touche Tohmatsu International and PriceWaterhouseCoopers are the five foreign account