NEW YORK (AP) – Three Chinese companies will be listed on 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 Limited, China Mobile Limited and China Unicom Hong Kong Limited will be withdrawn from the exchange. Trump issued an order on Nov. 12 banning investment in listed companies that the U.S. government says are owned or controlled by the Chinese military.
The statement issued Thursday afternoon says the stock market will suspend trading of the companies as soon as January 7 or until January 11. Issuers are said to be able to appeal to an NYSE board committee.
The Chinese government has accused Washington of misusing national security as an excuse to hinder competition and has warned that the Trump order would harm American and other investors.
Political analysts expect few changes in the policy of President-elect Joe Biden due to widespread frustration with China’s trade and human rights records and allegations of espionage and technology theft.
U.S. officials have complained that China’s ruling Communist Party is taking advantage of access to U.S. technology and investment to expand the military, which is already one of the largest and most armed in the world.