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Markets

Australia shows Chinese stocks the door

Pre-emptive enforcement drive purges one third of listings

Financiers say the ASX has made it virtually impossible for new Chinese companies to list.   © Reuters

MELBOURNE -- Chinese companies have lost their welcome with Australia's stock markets amid a campaign by the local securities regulator to enforce governance standards.

Around 20 companies, or roughly a third of those previously listed on the Australian Securities Exchange and two smaller local boards, have been purged over the last two years while no new ones have been accepted. This has left 46 Chinese stocks still trading across the ASX and the National Stock Exchange but no shares of any sort left on the Sydney Stock Exchange which had specifically focused on China.

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