The New York Stock Exchange (NYSE) said it “no longer intends to move forward with the delisting action” of three Chinese telecommunications companies, reversing a previous decision.
The move came days after the NYSE expressed Friday its intention to delist China Telecom, China Mobile, and China Unicom.
“At this time, the Issuers will continue to be listed and traded on the NYSE,” it said in a statement.
“NYSE Regulation will continue to evaluate the applicability of Executive Order 13959 to these Issuers and their continued listing status,” it added, referring to an executive order that President Donald Trump signed in November.
The order prohibited all American companies and individuals from investing in firms that allegedly aid the Chinese military.
If the NYSE did not reverse its decision, the Chinese companies had been set to delist as soon as Thursday.
Responding to the NYSE’s decision, China’s Foreign Ministry spokeswoman Hua Chunying said the impact of the US crackdown on some Chinese companies “is very limited.”
“But it does hurt the US national interests and its image, as well as the global status of US capital market,” said Hua, addressing a news conference in Beijing, according to the Chinese daily Global Times.
“We hope US can respect the rule of law and market, and make more efforts to safeguard the global financial market order and legitimate rights of investors,” Hua added.
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