New York Stock Exchange overturns decision to delist Chinese state-owned companies

US NEWS

The New York Stock Exchange has scrapped plans to remove three Chinese telecommunications companies from the index in accordance with a decree by US President Donald Trump.

The exchange announced on its website that it is canceling the previous decision after “new consultations” with regulators.

The exchange said last Thursday that it will exclude state-owned companies China Telecom Corp Limited, China Mobile Limited and China Unicom Hong Kong Limited in accordance with Trump’s November decree.

The decree prohibits US companies and individuals from investing in at least 31 firms that are believed to be affiliated with the Chinese military.

China’s Ministry of Commerce warned on Saturday that Beijing would take “necessary countermeasures” to protect its companies.

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