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Five Chinese firms announce plans to delist from US on same day amid ‘decaying market’

2022-08-13 09:13:22       source:Global Times

August 12, 2022

Five Chinese state-owned giants on Friday separately announced plans to delist their American depository shares (ADS) from the New York Stock Exchange (NYSE), drawing widespread attention amid escalating China-US tensions and constant US crackdowns on Chinese companies, including a push to potentially delist hundreds of Chinese firms in what many call a "financial decoupling."

Shortly after the announcements flashed across trading screens just minutes apart, China's top stock regulator, the China Securities Regulatory Commission (CSRC), issued a statement, stressing that the companies' decisions were made out of their own commercial considerations and that it will maintain communication with relevant overseas regulatory agencies to jointly protect the legitimate rights and interests of companies and investors. 

Chinese and US regulators have been in talks about audit rules covering US-listed Chinese firms.

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