Global Tuidang Center

GLOBAL SERVICE CENTER

for QUITTING THE CHINESE COMMUNIST PARTY

Cutting Off Funds for the Chinese Communist Party: Exchanges Around the World Delisting Chinese Companies

The NYSE is delisting three Chinese telecom companies. - credit: vision times
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on google
Google+

Vision Times Staff

The New York Stock Exchange (NYSE) has announced that it is delisting Chinese companies with ties to the Chinese military. The three firms are all state-owned enterprises operating in the telecom industry: China Unicorn (Hong Kong) Ltd., China Telecom Corporation Ltd., and China Mobile Ltd. These companies will have their securities suspended from all trading activities permanently between Jan. 7 and 11.

“NYSE Regulation reached its decision that the Issuers are no longer suitable for listing pursuant to Listed Company Manual Section 802.01D in light of Executive Order 13959 (the “Order”), which was signed on November 12, 2020… The Issuers have a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Issuers and securities upon completion of all applicable procedures, including any appeal of the NYSE Regulation staff’s decision,” the NYSE said in a statement.

In November, President Trump issued an executive order (13959) that banned American investments funding Chinese companies that the Pentagon deem as having ties with the People’s Liberation Army. The Pentagon has identified 35 such companies this year including the three delisted Chinese telecom companies. In December, the Trump administration strengthened the executive order by banning investments into any subsidiary of a Communist Chinese Military Company (CCMC). 

Other American exchanges have also announced the delisting of Chinese firms. On Dec.21,  NASDAQ removed China Communications Construction Co, China Railway Construction Corp, Semiconductor Manufacturing International Corp, and CRRC Corp from its exchange. MSCI announced removing 10 Chinese firms from some of the indexes, including SMIC, Hangzhou Hikvision, and China Communications Construction Co. These companies will be cut off from the indexes on Jan 5. S&P Dow Jones Index removed American Depositary Receipts (ADRs) of 10 Chinese companies, Hong Kong-listed H-shares, and mainland-listed A-shares on Dec. 21. On the same date, FTSE removed eight Chinese companies.

Help end Communism world wide. Sign the End CCP Petition at endccp.com.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on google
Google+

Related

Recommended