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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 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.

9 mins ago - World

Scoop: Israel's "top priority" mission to discredit UN probe

Israeli Prime Minister Naftali Bennett addresses the UN. Photo: John Minchillo/Pool via Getty

Israel is planning a campaign to discredit a UN commission formed to investigate the violence in Gaza last May and the root causes of the protracted conflict in the occupied West Bank and Gaza, according to an Israeli Foreign Ministry cable seen by Axios.

Why it matters: Israeli officials say they are highly concerned that the commission’s report will refer to Israel as an "Apartheid state" and that its findings could damage Israel's reputation, particularly among progressives in the West. The report is expected in June.

Updated 10 mins ago - Politics & Policy

Liberal Supreme Court Justice Stephen Breyer to retire: reports

Justice Stephen Breyer. Photo: MANDEL NGAN / AFP via Getty Images

Supreme Court Justice Stephen Breyer will retire, NBC news first reported and multiple outlets confirmed on Wednesday, giving President Biden his first — and maybe only — chance to put a stamp on the high court.

What’s next: Appointing a new Supreme Court justice will be one of the longest-lasting pieces of Biden’s legacy — and could give Democrats a jolt of energy ahead of next year's midterms.