China's three major operators will be delisted in the United States on March 9

On January 28, China Telecom, China Mobile and China Unicom issued an announcement stating that the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) issued General License No. 1A related to the Executive Order on January 27, 2021 (Eastern Standard Time) and guidance related to two related frequently asked questions.

According to the relevant guidance of the U.S. Treasury Department, the effective date of the executive order is March 9, 2021, not January 11, 2021. The three major operators stated that they will continue to pay close attention to the progress of related matters, seek professional advice and reserve all rights to protect the legitimate rights and interests of the company.

It is understood that after the document comes into effect, US persons will not be able to conduct any transactions in its publicly traded securities, any derivative securities or securities designed to provide investment opportunities for such securities.

In response to the incident, Foreign Ministry Spokesperson Hua Chunying said on January 21 that she supports the three companies in safeguarding their rights and interests in accordance with the law. The relevant Chinese regulatory authorities have previously responded to the NYSE's delisting decision. The three Chinese companies have issued American depositary shares and have been listed on the NYSE for nearly or more than 20 years. They have always complied with US securities market rules and regulatory requirements and are generally recognized by global investors. The NYSE initiated the delisting process for the three Chinese companies, which was triggered by the Trump administration's executive order against the so-called "Chinese Communist Party military-related enterprises." The US implemented the executive order for political purposes, completely ignoring the actual situation of the relevant companies and the legitimate rights and interests of global investors, and seriously undermined the normal market rules and order.