Beijing May Not Comply With Audit Rules for US-Listed Firms

A sign of the China Securities Regulatory Commission (CSRC) is seen at its headquarters in Beijing, China, on Nov. 16, 2020. VCG via Getty Images

Commentary

Five Chinese companies listed on U.S. stock exchanges said on Aug. 15 that they would voluntarily delist. The companies included Sinopec, China Life Insurance, Aluminium Corporation of China, PetroChina, as well as Sinopec entity Sinopec Shanghai Petrochemical Co. All of these companies were targeted by U.S. regulators for possible delisting as a result of their refusal to comply with U.S. audit requirements.