- China Telecom, China Mobile and China Unicom demand to remain on the NYSE
- Chip industry as brake on growth
- CAI does not replace bilateral agreements
- Xiaomi: litmus test for Biden
- Miners rescued in Qixia
- German car manufacturers: record sales in China
- Heads: Bjoern Etgen
Everyone is talking about the CAI. The text has been available since Friday. Over the weekend, Amelie Richter perused the text and discovered that the agreement will not replace the 26 existing investment protection agreements between China and individual EU member states. Is this what European unity looks like?
The International Labor Organization (ILO) describes four core labor standards with two conventions each: prohibition of discrimination, child labor, forced labor and the right to collective bargaining. The standards are one of the central topics at the CAI. Let’s take a look at who has ratified the standards so far: 138 countries have committed to all eight conventions, China to four – and the USA to two.
You can’t build a functioning chip industry with subsidies alone. Ning Wang and Finn Mayer-Kuckuk look into how Beijing wants to make up for lost ground.
Biden revises Trump – The pictures from the Oval Office went around the world as soon as the new US president was in office. Beijing is waiting with bated breath to see whether the new president will also reverse the decreed delisting of the major Chinese mobile phone companies from the New York Stock Exchange and remove the cell phone giant Xiaomi from the list of companies with which US citizens will not be allowed to do business or invest in the future.
Antje Sirleschtov
Feature
Telecom giants demand to remain on NYSE
It is the season for reversing the resolutions of Donald Trump. China’s big three telecom companies are also hoping for that. China Telecom, China Mobile, and China Unicom were targets of Trump’s attacks toward the end of his term. Now they are jointly addressing the New York Stock Exchange (NYSE). Their request: reconsidering the decision to delist their shares in the US. In a notice to the Hong Kong Stock Exchange, however, the three companies concede that their maneuver may not succeed, despite the change in administration. In any case, the legal situation is currently very unclear.
In his effort to show toughness towards China, Trump ordered in November: US institutions must not contribute to financing Chinese companies with ties to the military. That applies to China Mobile, China Telecom, and China Unicom, as well as virtually every other major company in the country. On New Year’s Eve, the New York Stock Exchange announced it was removing the shares of the three corporations from trading. Due to enormous criticism of the damage to American investors and legal doubts, the exchange operator reversed that decision in early January. Two days later, however, the NYSE reaffirmed the delisting plan.
NYSE hopes for turnaround
Now the three Chinese telecom giants are hoping for another turnaround and, thus, a final reversal of the decision. The depositary receipts with which they are listed on the NYSE could then remain in trading. In fact, there were doubts even within the US government: Are the landline and mobile phone companies really a threat to US security? And what about the interests of American companies in China? For their part, these are now subject to extended reviews.
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