China warns of retaliation to write off the New York Stock Exchange for companies

Beijing – China On Saturday he said he would take necessary countermeasures in response New York Stock Exchange Announcing the removal of three major Chinese from the list Telecommunications In the latest escalation of tensions between Beijing and Washington.

The stock exchange said Thursday it will write off China Telecom Ltd., China Mobile Ltd. and China Unicom Hong Kong Ltd., with the companies suspended trading sometime between January 7 and January 11.

The move stems from an executive order issued by President Donald Trump on November 12 prohibiting investment in publicly traded companies that the US government says are owned or controlled by the Chinese military.

ribbon Safety the last They change They change%
No Chinese Telecom 27.55 -0.01 -0.04%
CHL China Mobile Limited. 28.54 +0.25 + 0.88%
CHU China Unicom Ltd. 5.68 -0.09 -1.56%

NYSE begins the process of deleting 3 Chinese carriers

“China opposes the Americans from misuse of national security by listing Chinese companies in the so-called” Chinese Communist Military Companies “list and will take necessary countermeasures to firmly protect the legitimate rights and interests of Chinese companies, a Chinese trade spokesman said in a statement.

The statement said the measures “will significantly weaken the confidence of all parties in the US capital market.”

The ministry did not provide details on what the procedures were.

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Under Trump, the United States has stepped up economic sanctions and travel bans against Chinese companies, government officials, and Communist Party members, especially recently in the past few weeks for Trump in office.

In December, the United States announced plans to reduce visas for Chinese Communist Party members and their family members by one month, instead of 10 years.

The Chinese tech giant Huawei has been excluded from the US market, and the United States has pressed other countries to follow suit, although results are mixed.

Sacha Woodward

"Wannabe writer. Lifelong problem solver. Gamer. Incurable web guru. Professional music lover."

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