Back again, NYSE: three Chinese telecom giants to exit the market | TechNews Technology News

After receiving the attention of the White House, the New York Stock Exchange changed its decision not to eliminate China’s top three telecommunications companies, which will take effect on January 11.

The New York Stock Exchange said that China Mobile, China Telecom and China Unicom will be delisting at 4 am local time on the 11th. This move is believed to be due to the NYSE receiving “new guidance” from the Office of Foreign Assets Control of the United States Department of the Treasury. Prior to this, the New York Stock Exchange had been heavily criticized, including the Treasury Department, which was criticized by Congress.

Republican Sen. Marco Rubio pointed out that if someone in the Treasury Department suggested that the New York Stock Exchange reverse the decision to delist these Chinese companies, they would be undermining President Trump’s executive order, which is quite outrageous. . However, at present, this is due to a lack of clarity in government instructions and there is room for ambiguity.

US President Trump declared that China is using the United States to strengthen its military power and US investors to provide military funds. This will allow Beijing to threaten the United States and its forces abroad, develop advanced weapons and malicious networks targeting the United States and the public. attack. Through a national strategy of military-civil integration, China forced its private companies to support military and intelligence activities, expanding the scale of the country’s military-industrial complex. Although these companies are still private on the surface, they directly support China’s military, intelligence and security agencies and assist in their development.

To this end, Trump has also made many lists and hopes to implement as many as possible before leaving the White House. However, it is true that the executive order did not immediately force the exclusion of these companies. Although it came into effect in January this year, purchases could not be banned until November. This may be what caused the NYSE to misinterpret. Chinese Foreign Ministry spokesman Hua Chunying also responded to this, saying that certain American political forces continue to unreasonably clamp down on foreign companies listed in the United States and highlight the arbitrariness of their policies, hoping that the United States respects the legal system and the market.

It should be noted that although the New York Stock Exchange announced that the market will not close until the 11th, in practice the brokerage platforms will be liquidated early and will not wait until the last day, related investors must be vigilant.

(Source of the first image: Flickr / The White House CC BY 2.0)

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