The International Herald Leader published a commentary about Chinese companies delisting their stock from U.S. stock exchanges. On February 15, 2012. Shanda Interactive Entertainment Limited became the first Chinese Internet company from mainland China to have completed a stock buy-out and delisted its stock from NASDAQ. On February 21, 2012, after a massive stock buy-back, the Alibaba Group offered to delist its B2B site Alibaba.com from the Hong Kong Stock Exchange. Shanda and Alibaba are not alone. In 2011 there were a total of 22 Chinese companies that delisted their stocks in the U.S. More are expected to announce plans to delist. According to the article, Chinese companies that were listed through reverse mergers now find it difficult to play by the rules of the American style stringent reporting requirements. "Under the U.S. regulations, the tax payments reported on their SEC filings should be the same as those tax payments filed with tax authorities in the home country, with a discrepancy not exceeding 10%. But according to sources in some consulting agencies, for Chinese companies listed in the stock markets in the U.S., the difference is as large as 10 times, far surpassing what the U.S. law allows."
Source: International Herald Leader, March 6, 2012