Five Chinese state-owned companies to delist from NYSE amid U.S. tensions

[groundloop]

Source: Reuters

Five Chinese state-owned companies, including oil giant Sinopec (600028.SS) and China Life Insurance (601628.SS), said on Friday they would delist from the New York Stock Exchange, amid economic and diplomatic tensions with the United States.

The companies, which also include Aluminium Corporation of China (Chalco) (601600.SS), PetroChina (601857.SS) and a separate Sinopec entity, Sinopec Shanghai Petrochemical Co (600688.SS), each said they would apply to delist their American Depository Shares this month.

The five, which in May were flagged by the U.S. securities regulator as failing to meet its auditing standards, will keep their listings in Hong Kong and mainland Chinese markets.

Beijing and Washington are in talks to resolve a long-running audit dispute which could potentially result in Chinese companies being banned from U.S. exchanges if they do not comply with U.S. rules.

Read more: https://www.reuters.com/business/finance/several-chinese-state-owned-companies-delist-nyse-2022-08-12/

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GOOD RIDDANCE.

[AZLD4Candidate]

1. The CCP have no interest in following any rules except their own.

They do not recognize international waters. They do not recognize what the rest of the world says about Taiwan.

They do not recognize that COVID19 started in Wuhan.

To deal with the CCP would be similar to dealing with an overly entitled five year old throwing a temper tantrum.

Their attitude is we can do to you and you must accept it. If you do to us, it's because you hate China.

When I lived there I got that crap from people. When I'm there, I need to be a good guest. When they are here, we need to be good hosts.

[littlemissmartypants]

3. How's Bangkok? I hope you and your wife are enjoying your reunion and new jobs.

I can only imagine what a wonderful relief it must be. Congratulations on selling your screenplay, too. You certainly have lots of things to celebrate and Thailand is such a beautiful place. ❤

[yaesu]

2. good, take your china junk to the russian stock market. nt