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New York Stock Exchange resumes delisting of three Chinese companies

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The New York Stock Exchange (NYSE) has resumed its exclusion procedure for the securities of China Telecom, China Mobile and China Unicom due to US sanctions that prohibit investing in Chinese companies. Trading in shares of companies in the United States will cease on January 11, according to the website of the trading platform.

The NYSE decision is related to the receipt of a “new definite order” from the Office of Foreign Assets Control of the US Treasury. Companies can appeal a delisting decision.

Earlier, the exchange stopped the delisting process because it decided to conduct “further consultations”, but did not clarify other details that influenced the change in the original plans. On January 2, China said it would take the necessary steps to protect the rights and interests of Chinese businesses due to the NYSE delisting. The PRC believes that the American side is using government measures “to suppress Chinese enterprises, which does not comply with market rules and violates market logic.”

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