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US overturns its decision to delist three Chinese companies

(PTI) Beijing, Ta. 5 Tuesday 2021 on Tuesday

The New York Stock Exchange has overturned its decision to delist three Chinese state-owned telephone companies. US President Donald Trump ordered the removal of shares of these companies from the New York Stock Exchange. However, China has since threatened retaliation.

China has strongly criticized Donald Trump’s decision. Earlier, the New York Stock Exchange had said that it would distribute shares of China Telecom Corporation Limited, China Mobile Limited and China Unicom Hong Kong Limited.

Trump stated in his order in November that US citizens would not be allowed to invest in shares of companies linked to China’s military. The order increased tensions between the US and China over technology, security and espionage.

Earlier, the Trump administration took several actions against Chinese companies and their executives. China’s Foreign Ministry said in a statement that the distribution of shares of Chinese state-owned companies on the New York Stock Exchange would have little effect on Chinese companies.

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