China Mobile, Telecom, and Unicom will be delisted as U.S. ban investment in Chinese military-related firms

The New York Stock Exchange announced on 31 Dec. 2020 that China Mobile, China Telecom, and China Unicom Hong Kong will be delisted so as to comply with President Trump’s November executive order, which prohibits U.S. capital from investing in Chinese military-linked firms. NYSE will suspend their ADR trading from 7th to 11th of January, after which they will be delisted.

President Trump’s executive order will become effective at 9 a.m. ET on 11 Jan., prohibits U.S. individual investors, investment firm, and pension funds from trading or investing in the stocks or derivatives of 31 Chinese firms. In addition to the three telecommunication companies mentioned above, Huawei, Hikvision, China Communications Construction, and China Railway Construction are included as well. The order also stipulates that U.S. investors will not be allowed to hold any securities products of these 31 Chinese firms on or before 11 Nov. 2022.

#NewYorkStockExchange #ChinaMobile #ChinaTelecom #ChinaUnicom #Huawei #ExecutiveOrder #USChinaRelation #ExecutiveOrder

Source: Stand News #Jan01

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