She said Chinese Ministry of Commerce today, Saturday: The China Necessary measures will be taken to protect the interests of its companies after the New York Stock Exchange started deleting the names of three Chinese telecommunications companies that Washington says have military ties.
The New York Stock Exchange said: It will write off China Mobile, China Unicom and China Telecom between January 7 and January 11 after President Donald Trump moved in November to prevent US investment in 31 companies it says Washington: It is owned or controlled by the Chinese military.
“This kind of abuse of national security and state power to suppress Chinese companies does not comply with market rules and violates market logic,” the Chinese Ministry of Commerce said in a statement.
She added: These actions not only harm the legal rights of Chinese companies, but also harm the interests of investors in other countries, including the United States.
While the ministry said: It would take measures to protect its companies, it also called on the United States to meet with China midway and put bilateral trade relations back on the right track.
In the final weeks before President-elect (Joe Biden) took office on January 20, the Trump administration escalated its hard-line stance against China.
Relations between the two largest economies have come under increasing tension amid a series of disputes over issues such as trade and human rights.
The US Commerce Department added dozens of Chinese companies to its commercial blacklist in December, accusing Beijing of using its companies to harness civilian technologies for military purposes.
Chinese diplomats expressed hope that Biden’s election would help ease tensions between the two countries.
In remarks published on Saturday, Wang Yi, chief Chinese diplomat, said: Relations with the United States have reached a new crossroads and now a new window of hope can open.
The three Hong Kong-listed companies generate all of the revenue from China and have no meaningful presence in the United States other than being listed there.
Chinese officials have threatened to respond to the Trump administration’s past actions with the Chinese blacklist of US companies.