China warns of retaliation for NYSE's delisting of companies

The stock exchange said Thursday that it would delist China Telecom Corp. Ltd., China Mobile Ltd. and China Unicom Hong Kong Ltd., with trading of the companies to be suspended sometime between Jan. 7 and Jan. 11.

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The move stems from an executive order President Donald Trump issued on Nov. 12 barring investment in publicly traded companies that the U.S. government says are owned or controlled by the Chinese military.

“China opposes the Americans from abusing national security by listing Chinese companies into the so-called ‘Communist China Military Companies’ list and will take the necessary countermeasures to resolutely safeguard the legitimate rights and interests of Chinese companies,” a spokesperson for the Chinese Commerce Ministry said in a statement.

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