BEIJING: The United States’ act of abusing national security to suppress Chinese enterprises is inconsistent with market rules and will weaken the confidence of all parties in the U.S. capital market, a spokesperson for China’s Ministry of Commerce said.
The spokesperson made the remarks in response to the New York Stock Exchange’s announcement Thursday to delist China Telecom Corporation Ltd., China Mobile Ltd. and China Unicom (Hong Kong) Ltd.
The U.S. act of abusing national security and using state power to suppress Chinese enterprises is inconsistent with market rules and goes against the logic of the market, said the spokesperson. The move will not only harm the legitimate rights and interests of Chinese enterprises, but also the interests of investors from other countries, including the United States, said the spokesperson, adding that it will seriously weaken the confidence of all parties in the U.S. capital market.
China opposes the U.S. act of abusing national security and listing Chinese enterprises as so-called “Communist Chinese military companies” and will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises, the spokesperson said.
Meanwhile, Three Chinese companies will be booted off the New York Stock Exchange this month under an executive order signed in November by President Donald Trump. The exchange says China Telecom Corp. Limited, China Mobile Limited, and China Unicom Hong Kong Limited will be delisted from the exchange. Trump issued an order Nov. 12 barring investment in publicly traded companies. –Agencies
