Five major Chinese companies have announced they will delist from the

New York Stock Exchange

, at a time when Chinese companies are under scrutiny from the US regulator.

In separate statements, oil companies

Sinopec

and

PetroChina

, insurance heavyweight

China Life Insurance

, aluminum giant

Chalco

, as well as a Shanghai-based subsidiary of

Sinopec

, said they are starting papers for a "voluntary withdrawal." of the New York Stock Exchange.

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