Chinese telecommunications ‘exploration’ of President Biden on the first day of office

21/01/2021 16:14 GMT + 7

The three largest Chinese carriers simultaneously asked the New York Stock Exchange (NYSE) to reverse the delisting decision on the first day Mr. Joe Biden took office as US President.

The move shows that Chinese state-owned carriers are looking to probe how the Biden administration’s policies are compared to their predecessor, Nikkei said. The announcement was independently posted by China Mobile, China Telecom and China Unicom on the website of the Hong Kong Stock Exchange – where they listed – before the January 21 trading time. However, their content is almost the same, showing consensus.

The three Chinese telecom firms said they had submitted a written request to review the NYSE’s decision to delist earlier this month. In similar terms, the notices stated that each company “strictly complies with laws and regulations, market rules as well as legal requirements of the listing location and also operates under the law” .

The parent company of the three carriers is 100% owned by the China State Asset Supervision and Management Commission (SASAC).

Previously, the Chinese Foreign Ministry announced a list of sanctions against 28 individuals, including former US Secretary of State Mike Pompeo. Individuals listed with family members are prohibited from entering China, while organizations and companies related to them are prohibited from doing business with China.

The NYSE’s decision to delist securities listing of three Chinese carriers took effect from January 11. It is based on an executive order signed by former US President Donald Trump in November that prohibits individual Americans from investing in public companies that appear to have ties to the Chinese military.

In another test with the Biden and NYSE administrations, China’s largest e-cigarette maker – RLX Technology – also priced its IPO today (Jan. 21). The company plans to raise about $ 1.2 billion through the IPO.

The latest developments could be the foundation for the Biden administration to handle the China policy set by Mr. Trump. Many experts say Mr. Trump’s overall framework will not change in general. According to Research Vice President of Carnegie Endowment Fund for International Peace Evan A. Feigenbaum, the legacy of “securing every aspect” from the Trump administration will be inherited with “cheers from both Democrats and Communists. tie ”.

Du Lam (According to Nikkei)

The handover of power on the social networks of President Trump and Biden

The handover of power on the social networks of President Trump and Biden

When Joe Biden was sworn in as President of the United States, another handover of power took place on social media.


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