January 5th, Eastern Time, the New York Stock Exchange said that it no longer planned to delist three Chinese telecom giants, China Mobile, China Telecom and China Unicom.
“After further consultation with the Foreign Asset Control Office on the relevant regulatory agencies, the delisting action announced on December 31, 2020 will not be further promoted,” the New York Stock Exchange said.
Earlier, on December 31, local time, the New York Stock Exchange announced the launch of delisting procedures for China Mobile, China Telecom and China Unicom, and planned to suspend relevant stock trading from January 7 to January 11, 2021.
On November 12, 2020, the U.S. government issued an executive order prohibiting U.S. investors from investing in enterprises owned or controlled by the Chinese military.
The move is aimed at preventing American investment companies, pension funds and other institutions from buying and selling shares of these Chinese companies. These include three Chinese telecom operators, China Mobile, China Telecom and China Unicom.
However, the New York Stock Exchange also said that although it will maintain the listing and trading of the three major telecom operators on the New York Stock Exchange, it will continue to assess whether the three major telecom operators are applicable to the U.S. government’s ban on investing in enterprises owned or controlled by the Chinese military.
