NYSE withdraws plans to delist three Chinese phone carriers

BEIJING (AP) – The New York Stock Exchange (NYSE) has withdrawn plans to remove shares of three Chinese state-owned phone carriers under an order by United States (US) President Donald Trump that Beijing warned might lead to retaliation.

The exchange cited “further consultation” with regulators but its announcement late on Monday gave no other details.

China’s Foreign Ministry yesterday criticised Washington for “suppressing foreign companies” but made no direct comment on the NYSE announcement.

The NYSE said on Thursday it would remove China Telecom Corp Ltd, China Mobile Ltd and China Unicom Hong Kong Ltd under Trump’s November order barring Americans from investing in securities issued by companies deemed to be linked to the Chinese military.

The order added to mounting US-Chinese tension over technology, security and spying accusations.