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Several Chinese state-owned companies to delist from NYSE

Several Chinese state-owned companies to delist from NYSE

FILE PHOTO: The flags of China and the United States are seen printed on paper in this illustration taken January 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

SHANGHAI : Several Chinese state-owned companies including China Life Insurance and Aluminum Corporation of China announced plans on Friday to voluntarily delist from the U.S. stock market.

The companies, which also include oil giants Sinopec and PetroChina, said in separate statements that they would apply for delistings of their American Depository Shares from the New York Stock Exchange.

China and the United States have been in talks to resolve a long-running audit dispute that threatens to see Chinese companies kicked off American exchanges if they cannot comply with U.S. audit rules.

Source: Reuters

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