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China State-Owned Giants to Delist From US Amid Audit Spat

  • PetroChina, Sinopec, China Life plan to delist from New York
  • Time ticking for Chinese companies to avoid delistings
Bloomberg business news
Five Chinese Companies to Delist From US Exchanges
Updated on

Five of China’s largest state-owned companies announced plans to delist from US exchanges as the two countries struggle to come to an agreement allowing American regulators to inspect audits of Chinese businesses.

China Life Insurance Co., PetroChina Co. and China Petroleum & Chemical Corp. all disclosed their intentions to delist in statements published in quick succession on Friday, along with Aluminum Corp. of China and Sinopec Shanghai Petrochemical Co