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5 Chinese state-owned firms delist from Wall St. NHK

Five Chinese state-owned firms announced on Friday that they are delisting from the New York Stock Exchange, citing tougher US regulations.

They include PetroChina, Sinopec and China Life Insurance. All are on a list of Chinese entities that have been warned of possible delisting, should they fail to fully show their auditing records to US regulators.

Private companies on the list include online retail giant Alibaba Group Holdings.

Beijing is also strengthening oversight of Chinese firms whose stocks are traded abroad. Authorities suggested on Friday that they do not believe the decision by the five entities will affect the overseas listings of others.

Analysts say the regulations could further decouple the US and Chinese economies.
Summary
Five Chinese state-owned firms (PetroChina, Sinopec, China Life Insurance) announced delisting from the NYSE due to tougher US regulations. Other entities warned of possible delisting include Alibaba Group Holdings and are required to show auditing records to US regulators. Beijing is tightening
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ID: 62f6ccc4-6c5c-4582-89b7-5b4bc0a80b98

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20220813_04/

Date: Aug. 13, 2022

Created: 2022/08/13 06:57

Updated: 2025/12/09 14:23

Last Read: 2022/08/13 06:57