The two sides plan to further strengthen communication and reach cooperation arrangements as soon as possible within a framework that is consistent with their respective laws.

Top officials from the US and Chinese securities regulators held working-level talks today to fully exchange views on possible ways to advance cooperation on audit regulation, local media Cailian said, citing sources close to the Chinese regulator.

The two sides plan to further strengthen communication and reach cooperation arrangements as soon as possible within a framework that is consistent with their respective laws, according to the report, which did not disclose further details.

The development comes after Chinese Vice Premier Liu He chaired a meeting of the State Council Financial Stability and Development Committee (FSDC) on March 16 to express support for capital markets.

The top-level financial meeting in China addressed regulatory cooperation regarding Chinese companies listed in the US, according to a report yesterday by Xinhua News Agency.

Chinese and US regulators have maintained good communication and have made positive progress and are working to form concrete cooperation plans, the report said, adding that the Chinese government continues to support all types of companies going public outside of China.

Investor concerns about the risk of delisting Chinese companies listed in the US came to a new peak last week with the release of a list from the US Securities and Exchange Commission, causing shares of those companies to plummet.

Shares of US-listed and Hong Kong-listed Chinese companies rallied sharply after yesterday's FSDC meeting, with the Nasdaq Golden Dragon China Index (INDEXNASDAQ: HXC) up about 33 percent.

China voices support for capital markets after recent turmoil