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New York Stock Exchange Reverses Course Again, Will Delist 3 Chinese Telecom Firms After All

China China Business & Economy China Mobile China-US News Chinese firms delist Economy New York Stock Exchange US

New York Stock Exchange Reverses Course Again, Will Delist 3 Chinese Telecom Firms After All

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The New York Stock Exchange said on Jan. 6 that it will delist three Chinese telecom companies beginning on Jan. 11, in another U-turn a day after U.S. Treasury Secretary Steve Mnuchin told the NYSE chief he disagreed with its earlier decision to reverse the delistings. The latest move marks the third about-turn, amid confusion over rules set by the Trump administration and escalating tensions within Washington on China policy. The bourse had on Jan. 4 reversed a decision announced just last week to delist China Mobile, China Telecom Corp., and China Unicom Hong Kong. The stock exchange said it halted the delisting after consulting with regulators in connection with the U.S. Treasury’s Office of Foreign Assets Control. Plans to delist the three Chinese firms were prompted by a White House executive order (pdf) issued on Nov. 12, 2020, to ban U.S. investments in Chinese companies designated by the Pentagon as …

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