The New York Stock Exchange (NYSE) has announced the expulsion of three Chinese telecom companies for alleged involvement in the military. The three companies are China Mobile Limited, China Telecom Limited and China Unicom Hong Kong Limited.
The US media quoted the NYSE in the New York Times on Friday (January 1). The Trump administration has claimed that it has found evidence of a lengthy investigation against the companies. According to Bloomberg News, the NYSE listing process is being processed between January 8 and January 11.
According to Bloomberg News, the Trump administration has no specific information about the company's revenue. Analysts have warned that the expulsion could worsen US-China relations to months ago (November 2020), US President Donald Trump issued an order regarding foreign companies. It says companies with military ties to any country will not be allowed to invest in the United States.
The order was followed by a list of Chinese companies affiliated with the military. Trading in shares of these companies is prohibited in the United States. At the time, the Trump administration banned several Chinese companies, including TickTock, WeChat, and Tencent, on suspicion of espionage.
The US administration is taking this step as a result of the international trade war with China. Pro-China trade companies have been making such demands. Earlier, the US administration collected lists of Chinese companies from the NYSE and the country's two largest stock exchanges, Nasdaq. A database of the activities of Chinese companies is taken. It shows that at least 200 Chinese companies are listed on two stock exchanges in the United States. Its current market capitalization is 2.2 trillion.
Significantly, one billion is equal to one billion and one trillion is equal to one thousand billion. That means one trillion dollars. According to him, the market capitalization of Chinese listed companies in the US stock market stands at more than 20 220 billion.
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