NYSE scraps plan to ban China’s largest telecom firms from trading | JPNN.us

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an unexpected backflip by the new york stock exchange reversing a decision to de-list chinese telecommunications companies china mobile china telecom and china unicom just days after it was announced the news sent shares in the three companies surging on the hong kong stock exchange on tuesday but analysts say any celebrations are likely to be short-lived in the longer term i think this the tendency or the situation will not change at all because most of those chinese companies they’re now listing in u.s they will seek for seek for a secondary listing opportunity maybe in hong kong or maybe in shanghai starboard because those chinese companies will face more and more pressure from the regulators the decision to de-list followed the signing of an executive order by u.s president trump in november banning americans from investing in companies linked to china’s military the new york stock exchange says it made the decision after consulting u.s regulators beijing has accused the trump administration of politicizing trade and arbitrarily suppressing chinese companies some political forces in the united states have continuously suppressed foreign listed companies for no reason reflecting the uncertainty of their system but its impact on chinese companies is limited we hope they can respect the rule of law and the markets the chinese telecommunications companies say any us trade ban would have little impact on daily operations it’s instead seen here as symbolic donald trump has targeted a number of chinese technology companies on grounds of national security they’re now waiting to see if the incoming biden administration will take a less hostile approach to doing business with china but many believe trade disputes between beijing and washington are set to continue it’s based upon you know seeing china as an as an enemy to her to the us and as a threat um to the u.s now clearly it is a competitor without a question of a doubt um you know it’s uh it’s going to be soon the world’s largest economy um it’s growing very fast it’s recovered from the kovit 19 outbreak very well and there are also human rights issues that not just america but the whole world is going to be concerned about and rightly so but this may not be the best way of putting pressure on china and while the u-turn seems to be a lull in tensions between the two countries it’s certainly not the end of it katrina you al jazeera beijing

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