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Photo: Spencer Platt/Getty Images

The New York Stock Exchange announced late on Thursday that it will delist three Chinese companies to comply with an executive order that imposed restrictions on firms the U.S. identified as being affiliated with the Chinese military.

Why it matters: The announcement, coming late on New Year's Eve when many aren't paying attention, is the latest escalation in tensions between the U.S. and China.

Details: The companies — China Mobile Ltd., China Telecom Corp Ltd., China Unicom Hong Kong Ltd. — will be suspended from trading between Jan. 7 and Jan. 11, and proceedings to delist them have started, the exchange said in a statement.

  • The companies have separate listings in Hong Kong and generate their revenue in China. They have no meaningful presence in the U.S. outside of their listings on the NYSE, according to Bloomberg.

The executive order, signed by President Trump in November, prohibits American companies and individuals from owning shares in any of the 31 Chinese companies previously listed as enabling the People’s Liberation Army, effective Jan. 11.

  • The order said the People’s Liberation Army is a threat to the U.S. and is “increasingly exploiting United States capital” to gain an edge in its military-industrial complex.

Our thought bubble, via Axios' Felix Salmon: China Mobile, currently valued at $117 billion, has been a mainstay of the New York Stock Exchange since its blockbuster IPO in 1997.

  • Its arrival on the Big Board was a major development in the globalization of capital markets. Its ignoble departure is a sign that their deglobalization has truly begun.

Go deeper

Jan 26, 2021 - World

Former Google CEO and others call for U.S.-China tech "bifurcation"

Illustration: Aïda Amer/Axios

A new set of proposals by a group of influential D.C. insiders and tech industry practitioners calling for a degree of "bifurcation" in the U.S. and Chinese tech sectors is circulating in the Biden administration. Axios has obtained a copy.

Why it matters: The idea of "decoupling" certain sectors of the U.S. and Chinese economies felt radical three years ago, when Trump's trade war brought the term into common parlance. But now the strategy has growing bipartisan and even industry support.

Updated 13 mins ago - World

U.S. and UN express concern to Israel over Jerusalem violence

Israeli soldiers throw tear gas canisters at Palestinian demonstrators during a protest near the Jewish settlement of Beit El near Ramallah, in the occupied West Bank, on Sunday. Photo: Abbas Momani/AFP via Getty Images

The United Nations called on Israel Sunday to show "maximum restraint and respect the right to freedom of peaceful assembly" and National Security Adviser Jake Sullivan expressed "serious concerns" about violence in Jerusalem.

Driving the news: Over 250 Palestinians and several Israeli police officers have been wounded since Friday during protests over planned evictions of Palestinian families from their homes in the city's east — which Sullivan also expressed concern about, per a White House statement.

Emergency declaration issued in 17 states and D.C. over fuel pipeline cyberattack

Photo: Luke Sharrett/Bloomberg via Getty Images

The Biden administration said it's "working with" fuel pipeline operator Colonial Pipeline to try and restart operations after a ransomware attack took it offline.

Why it matters: Friday night's cyberattack is "the most significant, successful attack on energy infrastructure" known to have occurred in the U.S., notes energy researcher Amy Myers Jaffe, per Politico. A regional emergency

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