Five major Chinese state-owned companies, including oil producers Sinopec and PetroChina, announced Friday they will no longer list their stock for trading with the New York Stock Exchange amid U.S. investigations of their audit and disclosure policies.
In addition to the oil companies, China Life Insurance Co. Ltd.. and Aluminum Corp of China Ltd. also are voluntarily delisting from the exchange. A Sinopec subsidiary, Sinopec Shanghai Petrochemical Co also will delist from the exchange.
The China Securities Regulatory Commission said in a statement that some state-owned companies decided to delist from the U.