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NYSE to Delist Three Chinese Companies

(Noted News) — Continuing Washington’s ongoing China-purge, the New York Stock Exchange will be forced to delist three Chinese telecom companies who are suspected by Washington to be compromised by the Chinese military. 

Pursuant to Donald Trump’s executive order from November 12, the NYSE will be banning China Telecom Corporation Limited, China Mobile Limited, and China Unicom (Hong Kong) Limited.

The White House’s executive order prohibits US investors from accessing any securities offered by a “Communist Chinese military” company. The three telecom companies join a list of 35 other firms who, according to the White House, are “Chinese Military Companies.” This list grows periodically.

The delisting from the public stock exchange is ostensibly just the cherry on top of a lengthy battle against the companies by the American government, who has already limited their access to the US economy by other means.

The US Federal Communications Commission (FCC), has begun a move to revoke China Telecom’s right to operate within the United States, after being advised by several domestic agencies that the company was a threat to national security. 

China Mobile has also been under the gun for some time now; The FCC unanimously voted to halt all their operations inside the US in May of 2019.

Sometime between January 7th and January 12th, the NSYE is expected to officially take the companies off the exchange. All 3 companies are also listed on the Hong Kong Stock Exchange as well. 

Precursing Washington’s somewhat bipartisan take-on of Chinese telecommunications companies, were the sanctions against Chinese mobile phone producer Huawei, which included pressuring Britain to ban them from their 5G networks.  

Though accused by many conservatives of being heavily compromised by Chinese special interests, president-elect Joe Biden has shown signs that he plans on continuing the same style of foreign policy directed at China that incumbent president Trump has initiated. 

Speaking from his transition office in Delaware, Biden gave a speech which included hints of future plans for China.

“As we compete with China and hold China’s government accountable for its abuses on trade, technology, human rights and other fronts, our position will be much stronger when we build coalitions of like-minded partners and allies.”

“On any issue that matters to the US-China relationship – from pursuing a foreign policy for the middle class, including a trade and economic agenda that protects American workers, our intellectual property and the environment – to ensuring security and prosperity in the Indo-Pacific region, to championing human rights – we are stronger and more effective when we are flanked by nations that share our vision.”

Anthony Blinken, Biden’s pick for secretary of state, has implied in the past that the US needs to continue engaging China but hopefully in a way that is productive and less confrontational.

“My sense is that if we’re working together with our partners, if we are insisting that Beijing live up to its responsibilities, we’re going to get a lot further than this almost schizophrenic veering back and forth between confrontation and abdication that we’ve seen over the last two or three years.” 

Between being hawks and rational accommodationists, the Biden administration appears poised to brand themselves as somewhere in the middle. 

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