The New York Stock Exchange (NYSE) has said that it will delist three Chinese companies to comply with a US executive order that imposed restrictions on companies that were identified as affiliated with the Chinese military. The process to delist three companies – China Mobile, China Telecom and China Unicom Hong Kong have started.
These companies having separate listings in Hong Kong generate all the revenue for China without any meaningful presence in the US. These companies are involved in civilian and military production with money from US investors.
Earlier, US President Donald Trump on November 12 had signed an executive order that prohibits Americans from investing in 31 firms.
The order prohibited US investors from buying and selling shares in a list of Chinese companies designated by the Pentagon as having military ties.