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Chinese Companies Pull Out Of US Stock Markets

Stocks in this article: CHL CTFO FMCN FSIN

CDB has lent $1 billion "to help Chinese public companies leave the U.S. stock market to return to domestic markets," the business magazine Caixin said last month.

Employees who answered the phone at Fushi Copperweld said no one was available to comment.

Also in June, China TransInfo Technology Corp., a provider of traffic management technology, announced privatization plans to be financed by CDB's Hong Kong branch. A company spokeswoman said she could not comment because the plan is not finalized.

In October, Harbin Pacific Electric Co. withdrew from Nasdaq in a share buyback financed by $400 million in loans from the CDB.

___

Associated Press researchers Fu Ting in Shanghai and Yu Bing in Beijing contributed to this report.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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