Leroy N. Soetoro
2021-01-01 18:47:52 UTC
https://www.bloomberg.com/news/articles/2021-01-01/nyse-to-delist-chinese-
telco-giants-on-u-s-executive-order
The New York Stock Exchange said it will delist three Chinese corporations
to comply with a U.S. executive order that imposed restrictions on
companies identified as affiliated with the Chinese military.
China Mobile Ltd., China Telecom Corp Ltd., China Unicom Hong Kong Ltd.
will be suspended from trading between Jan. 7 and Jan. 11, and proceedings
to delist them have started, according to a statement by the exchange.
Quantitative hedge fund managers including Renaissance Technologies LLC,
Dimensional Fund Advisors LP and Two Sigma Investments LP were among the
largest holders in these U.S. listings but the stakes they held at the end
of September were small, 13F filings show.
The three Chinese companies have separate listings in Hong Kong. All
generate the entirety of their revenue in China and have no meaningful
presence in the U.S. except for their listings there. Their shares are
also thinly traded on the New York Stock Exchange compared to their
primary listings in Hong Kong, making this NYSE delisting more of a
symbolic blow amid heightened geopolitical friction between the U.S. and
China.
TikTok, Hong Kong and More U.S.-China Flashpoints: QuickTake
U.S. President Donald Trump signed an order in November barring American
investments in Chinese firms owned or controlled by the military, in a bid
to pressure Beijing over what it views as abusive business practices. The
order prohibited U.S. investors from buying and selling shares in a list
of Chinese companies designated by the Pentagon as having military ties.
Vowed to Protect
The Chinese Foreign Ministry later accused the U.S. of viciously
slandering its military-civilian integration policies and vowed to
protect the countrys companies. Chinese officials have also threatened to
respond to previous Trump administration actions with their own blacklist
of U.S. companies.
The executive order has resulted in a series of companies being removed
from indexes compiled by MSCI Inc., S&P Dow Jones Global Indices and FTSE
Russell.
The U.S. Federal Communications Commission in May barred China Mobile from
operating in the U.S. In December, it ordered carriers to remove equipment
made by Huawei Technologies Co., and begun looking into whether China
Telecom should be allowed to operate in the country. China Telecoms U.S.
unit told the FCC in a June 8 filing that its an independent business
based in the U.S. and not subject to Chinese government control.
FCC Moves Against China Telecom and Huawei, Citing Security
Global exchanges, including NYSE and Nasdaq Inc., courted Chinese
companies during the past decade as they attempted to expand their IPO
business, particularly in the internet sector. In response, Hong Kong
Exchanges & Clearing Ltd. changed its rules in recent years to lure back
listings, including allowing share sales by companies with weighted voting
rights -- strengthening the power of company founders at the expense of
weaker protections for minority investors.
Companies including e-commerce giants Alibaba Group Holding Ltd. and
JD.Com Inc., which already had listings in New York, conducted secondary
listings in Hong Kong in the past two years as tensions between the U.S.
and China intensified on a range of issues including trade and the novel
coronavirus.
--
"LOCKDOWN", left-wing COVID fearmongering. 95% of COVID infections
recover with no after effects.
No collusion - Special Counsel Robert Swan Mueller III, March 2019.
Donald J. Trump, cheated out of a second term by fraudulent "mail-in"
ballots. Report voter fraud: ***@mail.house.gov
Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden
fiasco, President Trump.
Under Barack Obama's leadership, the United States of America became the
The World According To Garp. Obama sold out heterosexuals for Hollywood
queer liberal democrat donors.
President Trump boosted the economy, reduced illegal invasions, appointed
dozens of judges and three SCOTUS justices.
telco-giants-on-u-s-executive-order
The New York Stock Exchange said it will delist three Chinese corporations
to comply with a U.S. executive order that imposed restrictions on
companies identified as affiliated with the Chinese military.
China Mobile Ltd., China Telecom Corp Ltd., China Unicom Hong Kong Ltd.
will be suspended from trading between Jan. 7 and Jan. 11, and proceedings
to delist them have started, according to a statement by the exchange.
Quantitative hedge fund managers including Renaissance Technologies LLC,
Dimensional Fund Advisors LP and Two Sigma Investments LP were among the
largest holders in these U.S. listings but the stakes they held at the end
of September were small, 13F filings show.
The three Chinese companies have separate listings in Hong Kong. All
generate the entirety of their revenue in China and have no meaningful
presence in the U.S. except for their listings there. Their shares are
also thinly traded on the New York Stock Exchange compared to their
primary listings in Hong Kong, making this NYSE delisting more of a
symbolic blow amid heightened geopolitical friction between the U.S. and
China.
TikTok, Hong Kong and More U.S.-China Flashpoints: QuickTake
U.S. President Donald Trump signed an order in November barring American
investments in Chinese firms owned or controlled by the military, in a bid
to pressure Beijing over what it views as abusive business practices. The
order prohibited U.S. investors from buying and selling shares in a list
of Chinese companies designated by the Pentagon as having military ties.
Vowed to Protect
The Chinese Foreign Ministry later accused the U.S. of viciously
slandering its military-civilian integration policies and vowed to
protect the countrys companies. Chinese officials have also threatened to
respond to previous Trump administration actions with their own blacklist
of U.S. companies.
The executive order has resulted in a series of companies being removed
from indexes compiled by MSCI Inc., S&P Dow Jones Global Indices and FTSE
Russell.
The U.S. Federal Communications Commission in May barred China Mobile from
operating in the U.S. In December, it ordered carriers to remove equipment
made by Huawei Technologies Co., and begun looking into whether China
Telecom should be allowed to operate in the country. China Telecoms U.S.
unit told the FCC in a June 8 filing that its an independent business
based in the U.S. and not subject to Chinese government control.
FCC Moves Against China Telecom and Huawei, Citing Security
Global exchanges, including NYSE and Nasdaq Inc., courted Chinese
companies during the past decade as they attempted to expand their IPO
business, particularly in the internet sector. In response, Hong Kong
Exchanges & Clearing Ltd. changed its rules in recent years to lure back
listings, including allowing share sales by companies with weighted voting
rights -- strengthening the power of company founders at the expense of
weaker protections for minority investors.
Companies including e-commerce giants Alibaba Group Holding Ltd. and
JD.Com Inc., which already had listings in New York, conducted secondary
listings in Hong Kong in the past two years as tensions between the U.S.
and China intensified on a range of issues including trade and the novel
coronavirus.
--
"LOCKDOWN", left-wing COVID fearmongering. 95% of COVID infections
recover with no after effects.
No collusion - Special Counsel Robert Swan Mueller III, March 2019.
Donald J. Trump, cheated out of a second term by fraudulent "mail-in"
ballots. Report voter fraud: ***@mail.house.gov
Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden
fiasco, President Trump.
Under Barack Obama's leadership, the United States of America became the
The World According To Garp. Obama sold out heterosexuals for Hollywood
queer liberal democrat donors.
President Trump boosted the economy, reduced illegal invasions, appointed
dozens of judges and three SCOTUS justices.