NYSE to delist 3 Chinese companies kenyastar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kenyastar.com Daily Mail and Mail on Sunday newspapers.
NYSE to delist 3 Chinese telcos to comply with US executive order ANI | Updated: Jan 01, 2021 12:21 IST
New York [US], January 1 (ANI): Amid growing concerns of security, the New York Stock Exchange (NYSE) said on Friday that it will delist three Chinese companies to comply with a US executive order that imposed restrictions on companies that were identified as affiliated with the Chinese military, reported South China Morning Post (SCMP).
The three companies China Mobile, China Telecom and China Unicom Hong Kong will be delisted between January 7 and January 11 and proceedings to delist them have started, according to a statement by the NYSE.
70 pc Chinese firms with military ties included in indices theusnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theusnews.com Daily Mail and Mail on Sunday newspapers.
At least 70 per cent of Chinese companies, the US State Department said today.
Washington:
At least 70 per cent of Chinese companies, with ties to the Chinese military have affiliates whose securities are included in major stock indices, the US State Department said today, adding that these companies are involved in civilian and military production with money from the US investors.
As of June 22, out of 31 firms with Chinese military ties had at least 68 distinct affiliated companies whose shares were included on major benchmarks, South China Morning Post reported citing State Department. The Chinese Communist Party s threat to American national security extends into our financial markets and impacts American investors, the State Department said in a fact report early this month.
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Beijing’s biggest chipmaking champion SMIC faces uncertain future after US blacklisting The headquarters of Semiconductor Manufacturing International Corp (SMIC) in Shanghai. Photo: Bloomberg
The future of China s largest chip maker and Beijing s best hope to catch up with rivals in the critical field of semiconductor manufacturing is under a cloud after the company said it would have trouble developing advanced chipmaking processes after it was put on a US trade blacklist. (The addition to the blacklist) will have significant negative impacts on research and development of advanced processes smaller than 10 nanometre (based) upon our initial assessment, SMIC said in a statement on Monday, adding that the short-term impact on the company s operation and finances would be limited.