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MOFCOM Spokesperson Made Remarks on NYSE’s Delisting of Three Chinese Companies

Question: On December 31, EST, the New York Stock Exchange of the US issued a press release, announcing the launch of procedures to delist three Chinese companies, namely, China Telecom, China Mobile and China Unicom (Hong Kong). What is your comment?

Answer: The NYSE issued a statement on December 31 that in order to comply with the Trump administration’s executive order banning US investment in Chinese companies with military backgrounds, it will delist three Chinese companies, namely, China Telecom, China Mobile and China Unicom (Hong Kong). Such practice, which abuses national security and uses state power to suppress Chinese companies, violates market logic. This not only undermines the lawful rights of Chinese companies, but also hurts the interests of international, including US investors, and will tank the confidence in the US capital market.

China opposes US abuse of national security and inclusion of Chinese companies on the so-called list of Communist Chinese military companies. We will take necessary measures to firmly defend the lawful rights of Chinese companies. At the same time, we hope the US will join China in creating a fair, stable and predictable business environment for companies and investors of the two countries and return bilateral economic and trade relationship to the right track at an early date.


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