WFB: The New York Stock Exchange will move forward with its original plan to delist three companies linked to the Chinese military, reversing course two days after it said it canceled plans to delist the Chinese firms.
The New York Stock Exchange announced on Wednesday morning that it will delist China Telecom, China Mobile, and China Unicom on Jan. 11 to comply with the Trump administration’s ban on U.S. investments in all firms it considers a “Communist Chinese military company.” The stock exchange’s decision came after the Treasury Department explicitly named the three companies as entities covered by the ban in a Wednesday morning announcement.
The delisting of the three tech companies is part of a growing bipartisan push to scrutinize Chinese companies operating in the U.S. financial system. Congress in December passed legislation that will force Chinese tech companies to abide by U.S. accounting standards or face delisting. And the Trump administration’s ban—which applies to more than 30 corporations—is expected to lead to the delisting of more companies with ties to the Chinese military. read more
China is asshoe. Copulate chine.
Followed by a strenuous objection from Mitch McConnell.