“Several Chinese state-owned companies, including China Life Insurance (601628.SS) and oil giant Sinopec (600028.SS), have announced they are leaving the New York Stock Exchange,” Reuters reported.

He noted that the companies, which also include China Aluminum Corporation (Shalco) (601600.SS) and PetroChina (601857.SS), have said in separate statements that they will apply to delist American Depositary Shares from the New York Stock Exchange. (NYSE).

The agency said “the four companies will maintain their listings in the Hong Kong and Mainland China markets,” while the China Securities Regulatory Commission (CSRC) clarified in a statement: “These companies have strictly adhered to the rules and regulations of the US capital market since their listing in the United States and made the decision to withdraw from its commercial considerations.”

The agency said China and the United States are in talks to resolve a long-standing audit dispute that could result in Chinese companies being kicked off US exchanges if they fail to comply with US audit rules.