The New York Stock Exchange will remove share listings of Chinese telecom companies following President Trump’s move on Tuesday to ban Chinese mobile apps in the United States, including Alipay and WeChat Pay.
The NYSE said Wednesday it will delist the shares of China Telecom, China Mobile and China Unicom on January 11, to comply with a November 12 executive order banning U.S. investment in companies that the Trump administration says support China’s military.
The news came hours after Trump issued a separate executive order to ban transactions in the United States with eight Chinese mobile apps. The list includes Alipay and WeChat pay, which are mobile payment apps accepted by some U.S. retailers, largely to cater to Chinese tourists and visitors. Their corporate owners, Ant Group and Tencent, respectively, did not offer any immediate comment on the order. The order will take effect in 45 days, after the start of the Biden administration, leaving its fate unclear.
ENTERTAINMENT EDITOR: CONNOR KMIECIK
PHOTO CREDITS: BRYNN ANDERSON/AP