Three Chinese telecom companies will be removed from the New York Stock Exchange (NYSE).
The stock market confirms this Wednesday after criticism from US Treasury Secretary Steven Mnuchin on the reversal of the earlier decision to end the listing of the companies.
Earlier this week, NYSE announced its intention to delist China Mobile, China Telecom and China Unicom (Hong Kong) at the behest of the Trump administration.
Last month, it banned American investments in Chinese companies that, according to Washington, are controlled by or owned by the military in China.
It was reported that trading in the companies would be suspended between January 7-11 and that the process of delisting the companies had begun.
Shortly afterwards, NYSE indicated that, after consulting with regulatory authorities, it had decided otherwise.
No reason was given for that turn.
Bickering costs companies over $ 30 billion in market value
Now, through the intervention of Mnuchin, another U-turn is being taken by the stock exchange company.
The three companies would be considered a threat to the national security of the United States.
The bickering over the listing on Wall Street has cost the three Chinese companies more than $ 30 billion in market value.
China Mobile, China Telecom and China Unicom (Hong Kong) have their primary listing in Hong Kong.
Beijing says in a response that it hopes the US will respect the laws and market rules.
According to a spokesman for the Chinese Ministry of Foreign Affairs, the status of the US as an international financial center rests on investor confidence.
The impact of the restrictions on Chinese companies will be limited.
In contrast, US interests will be harmed.