US financial status is built on spirit of inclusiveness and rules: China’s FM
Published: Jan 05, 2021 04:13 PM

A man walks near the New York Stock Exchange (NYSE) on August 31, 2020 at Wall Street in New York City. Photo: CFP

After the New York Stock Exchange (NYSE) said it no longer intends to delist three Chinese telecom companies, Chinese Foreign Ministry spokesperson Hua Chunying reaffirmed the US status as an international financial center hangs on the trusts from international companies and global investors that built on a spirit of inclusiveness and certainty of rules. 

However, following endless crackdown by the US exerting political force on listed foreign companies reflects the "randomness, arbitrariness and uncertainty of the US rules and regulations," Hua said at a media briefing in Beijing on Tuesday. 

The direct impact of the US crackdown on some Chinese companies is very limited, but it does hurt the US national interests and its self-image, as well as the global status of US capital market, she added. 

"We hope the US could respect the rule of law and market, make more efforts to safeguard the global financial market order and legitimate rights of investors, which will benefit the stable development of global economy," the spokesperson noted. 

Hua's comments came after the NYSE on Monday said it no longer intends to delist three Chinese telcos - China Telecom, China Mobile and China Unicom (Hong Kong), in a dramatic U-turn coming only days after it announced the move to comply with a US executive order. 

"In light of further consultation with relevant regulatory authorities in connection with Office of Foreign Assets Control," the NYSE said it "no longer intends to move forward with the delisting action," according to a Monday's statement published on the website of Intercontinental Exchange which is the owner of the NYSE.

"The Issuers will continue to be listed and traded on the NYSE," read the statement.

Global Times

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