Posted on 08/12/2022 6:31:05 PM PDT by BenLurkin
Five U.S.-listed Chinese state-owned companies whose audits are under scrutiny by the U.S. securities regulator said on Friday they would voluntarily delist from the New York Stock Exchange.
Oil giant Sinopec (600028.SS) and China Life Insurance (601628.SS), Aluminium Corporation of China (Chalco) (601600.SS), PetroChina (601857.SS) and a separate Sinopec entity, Sinopec Shanghai Petrochemical Co (600688.SS), each said they would apply to delist their American Depository Shares this month. They will keep their listings in Hong Kong and mainland China.
In May, the U.S. Securities and Exchange Commission (SEC) flagged the five companies and many others as failing to meet U.S. auditing standards.
Beijing and Washington are in talks to resolve a long-running audit dispute which could result in Chinese companies being banned from U.S. exchanges if China does not comply with Washington's demand for complete access to the books of U.S.-listed Chinese companies.
(Excerpt) Read more at reuters.com ...
How many are Hunter and Joe’s comrade buddies?
And Nancy’s and Gavin’s.
Sinopec has the largest refinery on the planet. Among other things, they produce additives for oil used in diesel engines. I wonder if they will suspend shipments to the US as part of the delisting. The chicoms are apparently upset due to US regulations.
CHINA FIRST: Biden-Linked CCP Oil Firm Hits Record Production Amidst Keystone Pipeline Cancellation.
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If you own a Chinese stock and it gets delisted, you lose your money. I don’t have any clue who gets your shares.
The way that China will silently conquer the US is by instructing their millions of citizens living in the US to run for congress like the muzzies have done.(see Ilhan Omar) America is sooooo vulnerable.
And I haven’t mentioned the many spies that live among us.
The way that China will silently conquer the US is by instructing their millions of citizens living in the US to run for congress like the muzzies have done.(see Ilhan Omar) America is sooooo vulnerable.
What scares me is ALL OF THE DEBT China is holding on the US!! What if they decide they want payment in full!!
If they don’t want to show their books, then there’s a good chance they’re as corrupt and broken as every other Chinese institution.
All companies from communist countries should be banned from US financial markets.
Boy Biden will be busy when he gets back from vacation to get that changed.
Hunter takes trip to?.
>>What if they decide they want payment in full!!<<
Then the war between China and America will come earlier than expected.
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