China says it will take action against U.S. delisting of its telcos

SHANGHAI: China will take “necessary measures” to safeguard the interests of its companies after the New York Stock Exchange began delisting three Chinese telecom firms that Washington says have military ties, the country’s commerce ministry said on Saturday.

The NYSE said on Thursday that it would delist China Mobile , China Unicom and China Telecom following President Donald Trump’s move in November to bar U.S. investment in 31 firms that Washington says are owned or controlled by the Chinese military.

“This kind of abuse of national security and state power to suppress Chinese firms does not comply with market rules and violates market logic,” the Chinese Ministry of Commerce said in a statement.