New York Stock Exchange to Delist 3 Chinese Telecommunication Firms


The New York Stock Exchange (NYSE) announced that it will delist China Mobile, China Telecom, and China Unicom Hong Kong due to claimed links with the Chinese military. Trading shares in the companies will be suspended on the NYSE next week (Between January 7th and 11th) while proceedings for the delisting have already begun. The delisting is seen more as a symbolic blow amid heightened geopolitical tensions between the United States of America and the People's Republic of China, as these three telecommunications companies earn nearly all of their revenue in China, and have very little presence in the United States.

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In November of 2020, United States President Donald J. Trump signed an order barring American investments in Chinese firms designated by the Pentagon as being owned, have ties to, or controlled by the military.

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In response, China responded with its own blacklist of American companies as tensions between the two nations escalate. As of now, over 200 Chinese companies are listed in the US stock markets with total market capitalizations over 2 trillion US dollars, but as relationship deteriorate with the US, many Chinese companies such as Alibaba and JD.com have sought dual listings in China and Hong Kong.

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Note: The first and third photos are from the public domain, and do not require attribution or citation for commercial purposes. The second image is my own personal photo. 

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AverageVancouverite
AverageVancouverite

Hey there! I'm just an average Vancouverite who has been mining for several years now, and have used everything from GPUs to ASICs and from CPUs to USB miners! I also write about global news with the World International News Group and do some photography!


World International News Group
World International News Group

The World International News Group is an independent Vancouver-based news agency that believes news should be accurate, honest, and unbiased.

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