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US-China tensions

U.S. adds Alibaba to list of Chinese companies facing delisting risk

SEC demands full access to audit working papers of New York-listed enterprises

Alibaba is one of 270-plus Chinese companies at risk of losing their U.S. stock listings.   © Reuters

(Reuters) -- Alibaba Group Holding is among a list of Chinese companies that could face delisting, the U.S. Securities and Exchange Commission said on Friday, pushing the e-commerce giant's shares down about 9% in midday trading.

Alibaba is among more than 270 Chinese companies listed in New York identified as being at risk of delisting under the Holding Foreign Companies Accountable Act (HFCAA), intended to address a long-running dispute over the auditing compliance of U.S.-listed Chinese firms.

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