Washington, January 5: New York Stock Exchange (NYSE) on Tuesday said that it was scrapping the plan to delist China telecom firms, according to an AFP update. Thus reversing a decision that further dented already strained relations between the world's two superpowers. Last week, the NYSE announced that it would halt the trading in shares of China Mobile Ltd, China Unicom Hong Kong Ltd and China Telecom Corp Ltd by January 11.

NYSE had planned to delist the three state-owned Chinese telecommunications companies from US stock exchanges, following President Donald Trump’s November executive order prohibiting American investment in companies that support the Chinese military. China Slams US After New York Stock Exchange Move to Delist of Chinese Telecom Firms, Vows to Retaliate.

New York Stock Exchange Says Scrapping Plan to Delist China Telecom Firms

China on Saturday slammed the United States after the NYSE move to delist three Chinese telecom companies and vowed to take necessary measure to protect Chinese "enterprises' legitimate rights".

(The above story first appeared on LatestLY on Jan 05, 2021 09:43 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).