The SEC especially now doesn't want to ruin rapport with China as the country has finally said it would allow "observational visits" from American audit-firm inspectors. This step towards potential joint inspections by both Chinese and US inspectors could start a bull rally among Chinese ADRs since it will restore some trust among US investors.
CNR had a major US auditor. CNR did not like auditors results. Auditor resigned. Cnr sail it would replace Ernst and Young. I don't believe they have done so and it has been a long time since the time they made the announcement. So don't all of you get excited. Sell all rallies as this has proven to be the prudent course.