Thursday, December 2

The New York Stock Exchange is reversing and will not expel three large Chinese operators | Economy


Logos of the three major Chinese operators at a telecommunications fair in Shanghai in 2018
Logos of the three major Chinese operators at a telecommunications fair in Shanghai in 2018Any SONG / Reuters

As a hypothetical sign of an armistice in the trade war between the United States and China, the New York Stock Exchange (NYSE, the manager of the New York Stock Exchange) has reversed its decision to expel from the US market to the state operators China Mobile, China Telecom and China Unicom, which will thus be able to continue trading on the New York stock market

” After consulting with the relevant regulatory authorities, the NYSE announces that it no longer intends to continue excluding the three issuers, as announced on December,1, 2021,” the entity announced on Tuesday

According to the original decision, in compliance with the executive order that President Donald Trump issued in his name prohibiting American companies and individuals from investing in companies allegedly linked to the Chinese Army, the exclusion of the three Chinese operators should have occurred before the next Monday, although the companies had the right to appeal the measure The decree law signed by Trump prevents US companies or citizens from owning shares directly or through investment funds of the,5 companies that Washington considers collaborators of the Chinese armed forces, among which are the three largest in the telecommunications sector

To justify a measure taken in the final stretch of his term, Trump declared that US investors are helping China “to directly threaten US territory and US forces abroad, with the development and deployment of weapons of mass destruction , advanced conventional weapons and malicious cyber actions against the United States and its inhabitants ” For many analysts, however, the decision only revealed the contradictions of the Republican Administration when it came to promoting sanctions due to its economic implications for investors

The China Securities Regulatory Commission criticized at the time that the executive order was based on “political motivations”, completely ignoring the real situation of the relevant companies and the legitimate rights of investors, seriously damaging the rules of the market and free competition

In separate statements, China Unicom and China Telecom indicated that they will continue to “monitor the development of the situation” China Unicom shares rose 850% on the Hong Kong Stock Exchange after the NYSE announcement, while China Mobile shares rose 513% and China Telecom, ,,5%

Once confirmed in her post by the Senate as a result of the decisive by-elections held this Tuesday in Georgia, the new Treasury Secretary, Janet Yellen, will inherit the poisoned Chinese trade dossier, with its arsenal of tariffs and sanctions, and must manage a confrontation that in the US goes beyond party lines and is considered to be in the national interest to tame its great strategic competitor


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