The New York Stock Exchange (NYSE) has started the delisting process for the top three Chinese mobile operators following a US executive order. Outgoing President Donald Trump signed the order in November, barring US organizations from investing in companies the government believes have ties to the Chinese military, including China Mobile, China Telecom and China Unicorn. The listings are largely symbolic given that the shares of the three are also listed on the Hong Kong Stock Exchange and the American companies are assumed to hold only small holdings. Meanwhile, companies only have limited interests outside of their home country.
NYSE China Mobile
However, the move angered Beijing, which once again accused Washington of acting politically rather than in the interest of national security. He is committed to defending the interests of Chinese enterprises and hopes the two countries can work together to create certainty for investors. Political and trade tensions between the United States and China escalated during the Trump presidency. The two sides traded tit-for-tat tariffs that hit consumer electronics, while the United States pressured its allies to follow suit and ban the use of Huawei equipment on networks. 5G. The US government has also imposed sanctions that restrict Huawei's access to US technology and threaten the company's prospects in the global smartphone market. Huawei recently sold its Honor subsidiary as a result of these sanctions and its ambitions to become the world's largest mobile phone maker. As part of these activities, the US Federal Communications Commission (FCC) has also formally banned US carriers from providing services to China Telecom. Via Bloomberg