New York Stock Exchange to Delist Chinese Companies After Executive Order

The New York Stock Exchange (NYSE) has said that it will delist three Chinese companies to comply with a presidential executive order.

Posted On:   December 31, 2020
By | The Enfield

The New York Stock Exchange (NYSE) has said that it will delist three Chinese companies to comply with a presidential executive order.

China Mobile Ltd., China Telecom Corp Ltd., and China Unicom Hong Kong Ltd will be delisted from the exchange between January 7 and January 11, according to a statement to a statement provided to Bloomberg.

The move comes after the President Donald Trump issued an executive order in November that prohibits U.S. investments in Chinese companies that are affiliated with the Chinese military.

“China is increasingly exploiting United States capital to resource and to enable the development and modernization of its military, intelligence, and other security apparatuses,” said the order released by the White House.

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