China on Saturday promised to take the necessary measures to protect its companies after the New York Stock Exchange (NYSE) removed three Chinese telecommunications companies due to alleged ties with the country’s military.
NYSE announced Thursday that it has begun removing China Mobile Ltd., China Telecom Corp Ltd. and China Unicom Hong Kong Ltd., which would prevent them from January 7 to 11. President Trump
Donald Trump Trump calls the Georgia Senate “illegal and invalid” in the twenties of the New Year. Judge rejects Gohmert’s election lawsuit against Pence. Ex-GOP senator proposes to form a new party, Trump calls’ issued an executive order in November banning U.S. investments in Chinese-regulated enterprises, which take effect on January 11.
“This kind of abuse of national security and state power to oppress Chinese enterprises does not comply with market rules and violates market logic,” the Chinese Ministry of Commerce told Reuters.
“It not only harms the legal rights of Chinese companies, but also harms the interests of investors in other countries, including the United States,” he added.
The ministry also demanded that the United States consider compromising with China to restore bilateral trade relations, Reuters reported.
The Trump administration has stepped up growing tensions between the US and China in the last weeks before the presidential election Joe Biden
Joe BidenTrump calls the Georgia Senate ‘illegal and invalid’ in the second year of the New Year. Judge rejects Gohmert’s election lawsuit against Pence. Ex-GOP senator proposes to form a new party, calls Trump more as ‘ringleader’ of Republicans take office. Earlier this year, he signed an executive order allowing the U.S. to blacklist Chinese companies, saying the Chinese military “wants to influence Chinese civilian enterprises to support its military and intelligence activities,” according to him an ‘unusual and extraordinary threat’ to the US
Chinese officials said they were hopeful Biden’s incoming government would be able to ease tensions.
According to China’s senior diplomat Wang Yi, he believes Biden could usher in a new window of hope regarding US-China relations, according to Reuters.