Flags of the United States and China are on display at the US International Trade Council (AICC) booth during the China International Exhibition for Services Trade in Beijing, China on May 28, 2019.
Jason Lee | Reuters
China on Saturday vowed to eliminate three telecommunications companies on the New York Stock Exchange under an executive order signed by the president. Donald Trump November.
According to the state-run Global Times, “China will take the necessary steps to firmly protect the legitimate rights and interests of Chinese companies,” the Commerce Ministry said in a statement.
The NYSE announced on Thursday that it was removing China Telecom Corp Ltd, China Mobile Ltd and China Unicom Hong Kong Ltd. Trump signed an order in November Prohibits Americans from investing in companies allegedly affiliated with the Chinese military.
The investment ban will take effect on January 11, just days before the first president is elected Joe Biden Is to be kept open. According to the NYSE, the trading of the three companies will be suspended until January 7 or January 11.
The United States has said the United States “abuses national security and uses state power to eliminate Chinese companies.
It added: “We hope that the United States and China will work together to create a fair, stable and predictable business environment for companies and investors to get bilateral economic and trade relations back on track.”
Trump pursued an aggressive economic agenda against China, which has been further curtailed since the appearance of Govt-19, which Trump has branded as a “China virus” in Wuhan.
Biden is not expected to dramatically change the US-China relationship, and Said Monday He said “the Chinese government should be held accountable for its abuses in trade, technology, human rights and other fronts.”
The White House did not immediately respond to a request for comment on China’s statement on Saturday. The Biden change committee also did not respond to a request for comment.
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