China threatens after America write off its telecom companies
China threatens after America write off its telecom companies

The Chinese Ministry of Commerce said on Saturday that China will take necessary steps to protect the interests of its companies after the New York Stock Exchange began deleting the names of three Chinese telecommunications companies that Washington says have ties to the companies. You have an army.

The New York Stock Exchange said it will write off China Mobile, China Unicom and China Telecom from Jan.7 to 11 after US President Donald Trump took measures in November to prevent the United States from investing in 31 companies. Washington: The Chinese military is owned or controlled.

"The misuse of national security and state power to suppress Chinese companies is not in line with market rules and goes against the logic of the market," the Chinese Ministry of Commerce said in a statement.

She added: These measures not only violate the legitimate rights and interests of Chinese companies, but also violate the interests of investors in other countries, including the United States.

The ministry said it would take steps to protect its business, but also urged the United States to meet with China midway and resume bilateral trade ties.

In the weeks leading up to President-elect (Biden) taking office on January 20, the Trump administration has stepped up its hard-line stance toward China.

Relations between the two largest economies have been strained in a series of trade disputes and human rights.

The US Commerce Department blacklisted dozens of Chinese companies in December, accusing Beijing of using its companies to spread civilian technology for military purposes.

Chinese diplomats have expressed their hope that Biden's election will help the two countries ease tensions.

Wang Yi, the top Chinese diplomat, said in a speech on Saturday that relations with the United States have reached a new crossroads and a new window of hope may open now.

These three Hong Kong-listed companies enjoyed all the advantages of China and were not only listed in the United States, but also had no significant operations in the United States.

Chinese officials have threatened to respond to previous measures taken by the Trump administration against the blacklisting of US companies affiliated with the Chinese government.

Previous Post Next Post