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Power Behind Chinese Telecom Giants

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Power Behind Chinese Telecom Giants


News Analysis The New York Stock Exchange (NYSE) announced on Jan. 6 that it would resume delisting the three Chinese telecom stocks—China Mobile, China Telecom, and China Unicom (Hong Kong)—after saying it would stop doing so on Jan. 4. The NYSE said in a statement published on its website that it had scrapped the plans after “further consultation with relevant regulatory authorities in connection with Office of Foreign Assets Control.” On Dec. 31, NYSE initially announced that the delisting was in compliance with a November executive order prohibiting American investments in Chinese companies tied to the Chinese military. These three stocks would stop trading by Jan. 11, after which the delisting procedures would begin, according to the former announcement. Unlike U.S. telecom companies., Chinese telecom companies are state-run. But how are they tied to the military? Three Telecoms In China, the communications industry is a monopoly industry, which only has three …

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