Major Chinese Telecom Companies Kicked Off New York Stock Exchange Following Trump Executive Order

Three major Chinese telecom companies will be removed from the U.S. stock market after President Donald Trump banned investing in companies that aid China’s military.

On Jan. 11, China Mobile, China Telecom and China Unicom will be removed from the New York Stock Exchange, CNN reported. The telecom companies are all major state-owned firms that the U.S. suspects are tied to the Chinese military.

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President Trump Signs Executive Order to Block Investment in Businesses Benefiting China’s Military

President Trump on Thursday signed an executive order to block investment in Chinese businesses that the administration says benefit China’s military.

The order prohibits such investments beginning Jan. 11, 2021, but allows divestment from investments that include the Chinese securities through Nov. 11, 2021.

“Today, President Donald J. Trump signed an Executive Order to protect American investors from funding Communist Chinese military companies, including those designated by the Department of Defense in June and August of 2020,” National Security Advisor Robert O’Brien said in a statement.

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