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Photo: Johannes Eisele/AFP via Getty Images

The New York Stock Exchange announced late Monday it no longer plans to delist three Chinese companies.

Why it matters: The NYSE said last Thursday it would suspend trading action from Jan. 7 for China Mobile, China Telecom, and China Unicom Hong Kong following a Trump executive order that imposed restrictions on firms the U.S. identified as being affiliated with the Chinese military.

What they're saying: NYSE spokesperson Farrell Kramer declined to comment on what had changed in relation to compliance with the executive order. But Kramer referred Axios to a stock exchange statement saying that "in light of further consultation" it no longer intends to move forward with the delisting action."

  • "At this time, the Issuers will continue to be listed and traded on the NYSE," per the statement.
  • "NYSE Regulation will continue to evaluate the applicability of Executive Order 13959 to these Issuers and their continued listing status."

Of note: The Chinese Ministry of Commerce on Saturday reacted to the NYSE's original announcement by saying it would take "necessary measures" to protect China's companies, per Reuters.

  • "This kind of abuse of national security and state power to suppress Chinese firms does not comply with market rules and violates market logic," the ministry said in a statement.

Background: In November, President Trump signed the executive order prohibiting American firms and individuals from owning shares in any of the 31 Chinese companies previously listed as enabling China's army, effective Jan. 11.

  • The order described the army is a threat to the U.S. and is "increasingly exploiting United States capital" to gain an edge in its military-industrial complex.

Editor's note: This article has been updated with new details throughout.

Go deeper

Jan 15, 2021 - World

Chinese annual rare earth exports fall to 5-year low

A front loader shifting soil containing rare earth minerals in a port in Lianyungang, China, in September 2010. Photo: STR/AFP via Getty Images

China exported around 35,400 tons of rare earth minerals and metals in 2020 — a roughly 23% drop from 2019's total, according to data from China's customs authority and records maintained by Reuters.

Why it matters: It's the lowest recoded amount since 2015 for the world's leading miner, processor and exporter of the materials, which are crucial in the manufacturing of commercial electronics, renewable energy development and military equipment.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: CDC director defends agency's response to pandemic — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden readies massive shifts in policy for his first days in office.
  3. Vaccine: Fauci: 100 million doses in 100 days is "absolutely" doable.
  4. Economy: Unemployment filings explode again.
  5. Tech: Kids' screen time sees a big increase.
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Dave Lawler, author of World
3 hours ago - World

Alexey Navalny detained after landing back in Moscow

Navalny and his wife shortly before he was detained. Photo: Kirill Kudryavtsev/AFP via Getty

Russian opposition leader Alexey Navalny was detained upon his return to Moscow on Sunday, which came five months after he was poisoned with the nerve agent Novichok. He returned despite being warned that he would be arrested.

The latest: Navalny was stopped at a customs checkpoint and led away alone by officers. He appeared to hug his wife goodbye, and his spokesman reports that his lawyer was not allowed to accompany him.