New York Stock Exchange Starts Delisting Chinese Telecom Firms


2021-01-01 10:18:57

New York Stock Exchange Starts Delisting Chinese Telecom Firms

Trading in the three Chinese telecom companies will end within the next week.

New York:

The New York stock exchange has begun the process of delisting three Chinese telecoms companies as it seeks to comply with an order by the Trump administration barring investment in firms with ties to the Chinese military.

It comes as relations between the world’s two biggest economies spiral downwards over sore points ranging from trade and the coronavirus to Hong Kong and Xinjiang.

Trading in China Mobile Communications, China Telecommunications Corp and China Unicom (Hong Kong) Limited will end within the next week, subject to transactions being settled, the exchange said in a statement Friday.

In November President Donald Trump signed an executive order banning Americans from investing in Chinese companies deemed to be supplying or supporting Beijing’s military and security apparatus, earning a sharp rebuke from China.

The order listed 31 companies it said China was using for the “increasing exploitation” of US investment capital to fund military and intelligence services, including the development and deployment of weapons of mass destruction.

It was one of a series of executive orders and regulatory actions that have targeted China’s economic and military expansion in recent months.

Newsbeep

Trump’s order prohibits US companies and individuals from owning shares in any of the 31 companies, which also include video surveillance firm Hikvision and China Railway Construction Corp.

National Security Advisor Robert O’Brien said at the time that the order would prevent Americans from unknowingly providing passive capital to Chinese companies — listed on exchanges around the world — that support the improvement of Beijing’s army and spy agencies.

Under his “America First” banner, Trump has portrayed China as the greatest threat to the United States and global democracy, pursued a trade war with it, harangued Chinese tech firms, and laid all the blame for the coronavirus pandemic at Beijing’s door.

Other index providers including MSCI Inc, S&P Dow Jones Indices and Nasdaq have deleted various Chinese firms from their listings.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



Source link

29 Comments

  1. order depakote January 1, 2021
  2. Ayxo28u January 1, 2021
  3. Aopd48u January 1, 2021
  4. Ipiwzsl January 1, 2021
  5. Qxxngo January 1, 2021
  6. Ixucyej January 1, 2021
  7. Zxgsna January 1, 2021
  8. Janemoism January 1, 2021
  9. Inronfv January 1, 2021
  10. Ifov98x January 1, 2021
  11. Yveffkb January 1, 2021
  12. ciialSr January 1, 2021
  13. Cisoi January 1, 2021
  14. Evypl10 January 1, 2021
  15. Cisoi January 1, 2021
  16. Ecrijsd January 1, 2021
  17. Yhnppsr January 1, 2021
  18. Iolpmip January 1, 2021
  19. Cisoi January 1, 2021
  20. Eykg81x January 1, 2021
  21. Sicbidetty January 1, 2021
  22. Aaciysj January 1, 2021
  23. Ofdiooi January 1, 2021
  24. colchicine 0,5 mg australia January 1, 2021
  25. RolandocaP January 1, 2021
  26. PeterGug January 1, 2021
  27. albuterol March 4, 2021
  28. vardenafil March 5, 2021
  29. cialis black March 8, 2021

Leave a Reply