China regulator says authorities working hard to stop U.S. delistings of Chinese firms

HONG KONG (Reuters) – Potential delistings of Chinese companies from U.S. stock exchanges would not be good for companies, global investors or Sino-U.S. relations, an executive at China’s securities regulator said on Thursday. U.S. authorities are moving towards kicking foreign companies off American stock exchanges if they do not comply with U.S. auditing standards, rules which at present would affect many Chinese companies. Shen Bing, director general of the China Securities Regulatory Commission’s department of international affairs, told a conference in Hong Kong that the regulator was in open communication with U.S. authorities to resolve the delisting threat, and was…