Lhe Bourse announced Thursday the delisting of China Telecom, China Mobile and China Unicom Hong Kong. All trading in the shares of these companies will be suspended as of the second week of January.
The move stems from an executive order issued on November 12 by defeated President Donald Trump banning investments in publicly traded companies that the US government says are owned or controlled by the Chinese military.
“China opposes Americans abusing national security by putting Chinese companies on the list of so-called Communist Chinese military companies. It will take the necessary countermeasures to resolutely protect the rights and legitimate interests of Chinese enterprises, ”a spokesperson for the Chinese Ministry of Commerce said in a statement.
“1/8 These measures 3/8 will also considerably weaken the confidence of all parties in the US financial market,” the statement warned.
The ministry did not give details on this subject.
During Donald Trump’s reign, the United States stepped up economic sanctions against China, including businesses, government officials, and the Communist Party. The situation has deteriorated in recent weeks.
In December, the United States announced plans to limit visas for members of the Chinese Communist Party and their relatives to one month instead of 10 years.
Chinese telecommunications giant Huawei has been shut out of the US market. The United States has pressured other countries to follow suit, with mixed results.
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