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NYSE Says It No Longer Plans to Delist Chinese Telecom Giants

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NYSE Says It No Longer Plans to Delist Chinese Telecom Giants

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The New York Stock Exchange (NYSE) announced late Monday that it is scrapping its plan to delist three Chinese telecom companies with ties to the Chinese military. It marks an abrupt reversal after NYSE said on Dec. 31 that it was in the process of delisting the three state-owned companies—China Mobile Ltd., China Telecom Corporation Ltd., and China Unicom (Hong Kong) Ltd., in compliance with President Donald Trump’s executive order (E.O.) 13959. The NYSE said in a statement published on its website that it scrapped the plans after “further consultation with relevant regulatory authorities in connection with Office of Foreign Assets Control.” Trump issued his executive order (pdf) on Nov. 12, 2020, banning U.S. investments in Chinese companies designated by the Pentagon as having ties to the Chinese military, citing threats to U.S. national security. The Chinese Communist Party (CCP), through its aggressive national strategy called “Military-Civil Fusion,” uses Chinese …

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