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China plans measures against taking down companies from New York Stock Exchange

China announced today that it would take the necessary countermeasures in response to the announcement by the New York Stock Exchange that it would separate three leading Chinese telecoms, the Associated Press reported.
The exchange said Thursday it would remove from its Chyna Telecom (China Telecom Corp. Ltd.), Tea Mobile (China Mobile Ltd.) and Chyna Unicom Hong Kong (China Unicom Hong Kong Ltd.), and trading in shares of these companies will be suspended sometime between January 7 and 11, BTA reports.

The move stems from a decree by President Donald Trump of November 12 banning investments in publicly traded companies that the US government claims are owned or controlled by the Chinese military.

China is against Americans abusing national security by including Chinese companies on a list called “Communist Chinese Military Companies” and will take the necessary retaliatory measures to resolutely defend the legitimate rights and interests of Chinese companies, according to a statement Ministry of Commerce in Beijing.

Actions will further weaken confidence in the US capital market, the statement added.

The ministry does not disclose details about the type of potential measures.


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