China State-Owned Giants Plan to Delist From U.S. Amid Audit Spat

(Bloomberg) — Three of China’s largest state-owned companies announced plans to delist from U.S. exchanges as the two countries struggle to come to an agreement allowing American regulators to inspect audits of Chinese businesses.

China Life Insurance Co. Ltd., PetroChina Co. Ltd. and China Petroleum & Chemical Corp. — better known as Sinopec — all disclosed their intentions to delist in statements published in quick succession on Friday.