China will take “the necessary steps” to protect its companies’ interests after the New York Stock Exchange began to withdraw from trading the shares of three Chinese telecommunications companies, which, according to Washington, are linked to the Chinese military. This was announced by the Ministry of Commerce of China, without specifying which measures could be discussed.
The exchange recently announced that it would exclude China Mobile, China Unicom, and China Telecom from the list after the US president banned US investments in 31 companies in November, credited with having ties to the Chinese military.
“This abuse of national security and state power to suppress the activities of Chinese firms is not in line with market rules and violates market logic,” the Chinese Ministry of Commerce said in a statement.
“This not only harms the legal rights of Chinese companies, but also the interests of investors in other countries, including the United States,” the ministry said.
While the ministry said it would take steps to protect its companies, it also called on the United States to accommodate China and get bilateral trade relations back on track.