The New York Stock Exchange has announced that it will begin delisting three major Chinese telecommunications companies in response to an executive order signed by President Trump, and the Chinese government is strongly opposed.
According to the announcement by the New York Stock Exchange, the delisting targets are all three major Chinese telecommunications companies: China Telecom, China Mobile, and China Unicom.
The delisting follows a presidential decree signed by President Trump last November.
The presidential decree prohibits American investors from investing in Chinese companies, which are said to have close ties with the Chinese People's Liberation Army, by purchasing shares.
Trading in the shares of the three companies will be suspended by the 11th of this month.
In response to this announcement, the Ministry of Commerce of China announced a comment from a spokesman on the 2nd, saying, "Suppressing Chinese companies by state power does not meet the rules of the market, not only the rights of Chinese companies but also the interests of investors in each country. It will hurt and undermine confidence in the US capital markets. "
On that basis, he said, "We will take necessary measures in the future and firmly protect the legal rights of Chinese companies."