Several Large Chinese-Owned Companies Announce Plans To Delist From NYSE

In an apparently coordinated action, at least four major state-owned Chinese companies said Friday they intend to delist their stocks in the U.S., as Beijing appears unwilling to bend to increased U.S. scrutiny into the country’s financial auditing practices. Aluminum Corp. of China, China Life Insurance, PetroChina and Sinopec all announced they plan to delist…