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Sunday, January 03, 2021, 14:01
China responds to US delisting three Chinese enterprises
By Xinhua
Sunday, January 03, 2021, 14:01 By Xinhua

This April 6, 2018 file photo shows the Ministry of Commerce (MOC) in Beijing, capital of China. (LI HE / XINHUA)

BEIJING - The United States' act of abusing national security to suppress Chinese enterprises is inconsistent with market rules and will weaken the confidence of all parties in the US capital market, a spokesperson for China's Ministry of Commerce said Saturday.

The spokesperson made the remarks in response to the New York Stock Exchange's announcement Thursday to delist China Telecom Corporation Ltd, China Mobile Ltd and China Unicom (Hong Kong) Ltd.

The spokesperson made the remarks in response to the New York Stock Exchange's announcement Thursday to delist China Telecom Corporation Ltd, China Mobile Ltd and China Unicom (Hong Kong) Ltd

The US act of abusing national security and using state power to suppress Chinese enterprises is inconsistent with market rules and goes against the logic of the market, said the spokesperson.

ALSO READ: Delisting of Chinese firms in US to hurt both sides

The move will not only harm the legitimate rights and interests of Chinese enterprises, but also the interests of investors from other countries, including the United States, said the spokesperson, adding that it will seriously weaken the confidence of all parties in the US capital market.

China opposes the US act of abusing national security and listing Chinese enterprises as so-called "Communist Chinese military companies" and will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises, the spokesperson said.

READ MORE: Many mainland companies to have secondary listing in HK

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