China will take necessary measures against US’ delisting its telecom firms: MOC
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The Chinese Ministry of Commerce on Saturday condemned the New York Stock Exchange (NYSE) for delisting the country’s three major mobile operators and said China will take necessary measures to safeguard the interests of Chinese companies.

The exterior of the New York Stock Exchange (NYSE) is seen on November 4, 2020 in New York. (File photo: AFP)

The NYSE announced on Thursday that it would delist China Mobile, China Unicom and China Telecom, following President Donald Trump's executive order to ban US investment in firms that alleged by Washington to be “linked to the Chinese military”.

According to a statement released by China's Ministry of Commerce, the US abused he excuse of national security as a way to suppress Chinese companies. Such a move does not comply with market rules and violates market logic. It harms both the legitimate rights of Chinese companies and the interests of investors in various countries, including the US itself. It will severely weaken the confidence in the US capital market on all sides.

China firmly opposes the US' abuse of national security to list Chinese companies as so-called "Chinese Communist Party Army's Companies" and will take necessary measures to safeguard the legitimate rights and interests of Chinese companies.

Meanwhile, China hopes that both sides will meet each other half-way and work together to create a fair, stable and predictable business environment for the companies and investors of the two countries and put bilateral economic and trade relations back on track as soon as possible.

(Compiled by Yang Jiaqi)