Five Chinese SOEs' Delisting From NYSE Have Limited Impact-Daily

The delisting of five Chinese state-owned companies, including PetroChina, Sinopec and China Life Insurance, from the New York Stock Exchange will not have a great impact on Chinese stocks and the capital markets of China and the U.S., nor does it point to a want for financial “decoupling”, Economic Daily reported, citing analysts. These companies chose to delist because of high costs and regulatory issues, and most of their shares are listed on the exchanges in mainland China and Hong Kong, with less than 1% of total shares listed on NYSE, the newspaper said. This should not trigger a wave of similar delistings, and Chinese regulatory authorities will firmly support companies to list where they wish, the Daily said.