A number of China’s biggest state-owned companies have announced plans to delist from U.S. stock exchanges after the Securities and Exchange Commission (SEC) warned that hundreds were at risk of getting kicked off for possible non-compliance with audit rules.
In separate filings on the Hong Kong stock exchange where their shares are also listed, Aluminum Corp. of China, Sinopec Shanghai Petrochemical, China Petroleum & Chemical, PetroChina, and China Life Insurance, stated that they would delist from the New York Stock Exchange (NYSE).
