CHU - China will retaliate against U.S. delisting of telecom firms

China said it will take "necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises" after the NYSE started process of delisting Chinese telco giants to comply with a U.S. executive order issued in November."The practice of abusing national security and using state power to crack down on Chinese enterprises is not in line with market rules and logic, which harms not only the legitimate rights of Chinese enterprises, but also the interests of investors in other countries, including the U.S.," China's Commerce Ministry said in the statement. "We hope that the US and China will work together to create a fair, stable and predictable business environment for enterprises and investors, so as to get bilateral economic and trade relations back on track."Among those facing delisting from the NYSE are China Mobile (NYSE:CHL), China Telecom (NYSE:CHA) and China Unicom Hong Kong (NYSE:CHU), which will be suspended from

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China will retaliate against U.S. delisting of telecom firms