Chinese authorities are “working very hard” with U.S. counterparts to prevent Chinese firms from being delisted from U.S. stock exchanges, according to an official from China’s securities regulator, who warned that such delistings would be a setback for companies and relations with the United States. Discussions with U.S. counterparts on the delisting of Chinese firms were “smooth and open,” Shen Bing, director-general of the China Securities Regulatory Commission’s (CSRC) department of international affairs, said on Nov. 25. “There may be delisting risks for Chinese stocks, which the CSRC will do its best to avoid. We do not believe that the delisting of Chinese shares on the U.S. is good for the companies, global investors, or China-U.S. relations,” Shen said at a press conference in Hong Kong. The Public Company Accounting Oversight Board (PCAOB), which is tasked with oversight of major U.S. auditing firms, has long complained of a lack of …