In this file photo taken on December 09, 2020 the Wall Street sign at the New York Stock Exchange is seen in New York City. Angela Weiss / AFPThe New York stock exchange has begun the process of delisting three Chinese telecoms companies as it seeks to comply with an order by the Trump administration barring investment in firms with ties to the Chinese military.
Trading in China Mobile Communications, China Telecommunications Corp and China Unicom Limited will end within the next week, subject to transactions being settled, the exchange said in a statement Friday. The order listed 31 companies it said China was using for the “increasing exploitation” of US investment capital to fund military and intelligence services, including the development and deployment of weapons of mass destruction.
Trump’s order prohibits US companies and individuals from owning shares in any of the 31 companies, which also include video surveillance firm Hikvision and China Railway Construction Corp.