Associated Press
Three Chinese giants leave New York Stock Exchange
Three Chinese state-owned companies announced plans to remove their shares from the New York Stock Exchange on Friday. This is widening economic segregation between the world’s largest economies amid controversy over corporate audit scrutiny. PetroChina, China Life Insurance and China Petroleum & Chemical did not address the audit controversy or US-China tensions over Taiwan, security, technology and human rights. Washington said Chinese companies, including Alibaba Group, the world’s largest e-commerce company, could be forced to exit U.S. stock exchanges if Beijing refuses to let regulators see the records of its auditors. I warn you that there is.