Home Politics America China Telecom Corporation Ltd., China Mobile Ltd. and China Unicom (Hong Kong)...

China Telecom Corporation Ltd., China Mobile Ltd. and China Unicom (Hong Kong) Ltd

332
0

The United States’ act of abusing national security to suppress Chinese enterprises is inconsistent with market rules and will weaken the confidence of all parties in the U.S. capital market, a spokesperson for China’s Ministry of Commerce said Saturday.

The spokesperson made the remarks in response to the New York Stock Exchange’s announcement Thursday to delist China Telecom Corporation Ltd., China Mobile Ltd. and China Unicom (Hong Kong) Ltd.

The U.S. act of abusing national security and using state power to suppress Chinese enterprises is inconsistent with market rules and goes against the logic of the market, said the spokesperson.

The move will not only harm the legitimate rights and interests of Chinese enterprises, but also the interests of investors from other countries, including the United States, said the spokesperson, adding that it will seriously weaken the confidence of all parties in the U.S. capital market.

China opposes the U.S. act of abusing national security and listing Chinese enterprises as so-called “Communist Chinese military companies” and will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises, the spokesperson said.

Previous articleEarly Treatment Key to Coronavirus
Next articleUK Struggles with Covid-19
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.