NYSE: No longer planning to delist three Chinese telecom operators
According to Intercontinental Exchange Group (ICE) website 4, after further consultations with relevant regulators, the NYSE no longer plans to delist three Chinese telecom operators.
On December 31,2020, according to media reports such as the Associated Press, the New York Stock Exchange issued a statement saying that three Chinese companies, China Unicom (Hong Kong), China Mobile and China Telecom, will be delisted in order to comply with the Trump administration’s administrative order to prohibit Americans from investing in “Chinese enterprises with military background “, according to local time. On January 2, China’s Ministry of Commerce issued a statement saying that China opposes the US abuse of national security to include Chinese enterprises in the list of so-called “Communist Party Chinese military companies” and will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.
The nyse said the delisting process for three chinese companies had started and its shares would cease trading from january 7 to 11. The Associated Press said the Trump administration issued an executive order in November 2020 banning U.S. investors from investing in “Chinese companies with military backgrounds “, the Associated Press said. At present, there are 35 Chinese companies on the list, and more Chinese companies will be forced out of the U.S. securities market.
China Securities Regulatory Commission (CSRC) spokesman said Wednesday that the three Chinese companies have issued U.S. depository receipts (ADR) and listed on the New York Stock Exchange for nearly 20 years. They have been complying with U.S. securities market rules and regulatory requirements and are generally recognized by investors around the world. The NYSE’s direct announcement of the delisting process for three companies was triggered by an executive order from the U.S. government against the so-called “Chinese military-related enterprises. The United States has carried out administrative orders for political purposes, completely ignoring the actual situation of the relevant companies and the legitimate rights and interests of global investors, and seriously undermining the normal market rules and order.
On January 4, the three major operators issued a notice at the HKEx that they had not received a delisting notice from the NYSE.