China Telecom approved to list in Shanghai

China's securities regulator on Thursday approved China Telecom to list on the Shanghai Stock Exchange, two months after the state-owned telecommunications company was delisted from the New York Stock Exchange (NYSE). Why it matters: China Telecom's domestic listing comes as US-China rivalry spreads to the equity sector. The US has set stricter rules for Chinese firms listing on US stock markets, and China has in recent months increased scrutiny on companies seeking overseas listings. Details: The China Securities Regulatory Commission said in a Thursday announcement (in Chinese) that it had approved China Telecom's plan to issue shares in Shanghai, without…