The World's largest wireless carrier is removed by the NYSE ⋆

The World’s largest wireless carrier is removed by the NYSE

This past Thursday, the New York Stock Exchange (NYSE) said that it would stop handling transactions involving the securities of China Mobile, China Unicom and China Telecom. worlds largest wireless carrier

The move by the securities exchange comes after U.S. President Donald Trump, back in November, banned American companies and consumers from investing in 31 outfits that Trump said are owned or controlled by the Chinese military.

Among the three telecom firms mentioned by the NYSE last week, China Mobile is the world’s largest wireless provider. As of last October, the carrier had more than 946 million subscribers. Compare that figure with the 120 million+ subscribers that Verizon counted at the end of the last quarter; the latter is the largest mobile carrier in the states.

As you might imagine, Chinese government officials are not pleased. The Chinese Ministry of Commerce said in a statement,

“This kind of abuse of national security and state power to suppress Chinese firms does not comply with market rules and violates market logic. It not only harms the legal rights of Chinese companies but also damages the interests of investors in other countries, including the United States.“

The Ministry not only said that it would take action to protect its firms, it also asked the U.S. to agree to a compromise over issues like trade and human rights. It isn’t clear exactly what actions China is considering against the U.S.

According to Reuters, over the last two weeks, the outgoing Administration has been even tougher on China than it has been. On January 20th at noon ET, the Biden era begins and China is hoping that the seating of the new U.S. president eases tensions between the two economic powers. Yesterday, China’s senior diplomat Wang Yi said that relations between China and the United States had reached a “new crossroads” and “a new window of hope” is on the way.

Under his “America First” banner, Trump has portrayed China as the greatest threat to the United States and global democracy, pursued a trade war with it, harangued Chinese tech firms, and laid all the blame for the coronavirus pandemic at Beijing’s door.

Other index providers including MSCI Inc, S&P Dow Jones Indices and Nasdaq have deleted various Chinese firms from their listings. worlds largest wireless carrier

China has three major telecommunications companies: China Mobile, China Unicom, and China Telecom.

These three companies dominate the telecom market in China and are among the largest telecommunications companies in the world.

China Mobile is the largest mobile service provider in China, with over 900 million subscribers. It provides voice, data, and multimedia services to consumers and businesses. China Mobile has a strong presence in rural areas, and its extensive network coverage makes it an attractive option for those looking for reliable mobile services.

China Unicom is the second largest mobile service provider in China, with over 300 million subscribers. It provides 2G, 3G, and 4G mobile services, as well as broadband and fixed-line services. China Unicom has a strong focus on customer service, and its advanced network infrastructure makes it a popular choice for those who value high-quality network connectivity.

China Telecom is the largest fixed-line service provider in China, with over 200 million subscribers. It provides broadband and fixed-line services, as well as mobile services through its subsidiary, China Telecom Corporation Limited. China Telecom is known for its innovative products and services, and its advanced network infrastructure makes it a popular choice for businesses and consumers who require high-speed and reliable connectivity.

In terms of global ranking, China Mobile is the world’s largest mobile service provider, followed by China Unicom. China Telecom is among the top ten largest telecommunications companies in the world. These three companies play a significant role in the growth and development of the telecommunications industry in China, and they are leading the way in terms of innovation and customer service.