NEW YORK (AP) – Three Chinese companies will be listed on the New York Stock Exchange this month on the basis of an executive order signed in November by President Donald Trump.
The stock exchange says that China Telecom Corp. Limited, China Mobile Limited and China Unicom Hong Kong Limited will be deregistered. Trump issued an order on November 12, except for investments in listed companies that the US government says are owned or controlled by the Chinese military.
The statement issued late on Thursday says that the stock exchange will suspend the trading of the companies from January 7 or until January 11. It is said that issuers of shares may appeal to a committee of the NYSE’s board of directors.
The Chinese government has accused Washington of abusing national security as an excuse to impede competition and warned that Trump’s order would harm the US and other investors around the world.
Political analysts expect a reduced policy change under President-elect Joe Biden due to widespread frustration with China’s trade and human rights records and allegations of espionage and technology theft.
US officials have complained that the Chinese Communist Party is taking advantage of access to US technology and investment to expand its army, already one of the largest and most powerful armies in the world.