back to article Two Chinese companies leave US: China Telecom told it can't stay, DiDi gets out of Dodge

Two Chinese tech companies, China Telecom and DiDi Global, are packing their bags and moving out of the US, one under the ruling of Washington, the other under the thumb of Beijing. On Friday, DiDi Global announced it would delist from the New York Stock Exchange in favour of Hong Kong after a mere five-month presence. The …

  1. batfink Silver badge

    "National security concerns"

    ie "not doing what you're told".

  2. elsergiovolador Silver badge

    Quacks like a duck but it ain't a duck, it's Winnie the Pooh!

    Two Chinese companies combines leave US

    There I fixed that for you.

    It's like East Germany listed its Industrieverband Fahrzeugbau on the US stock exchange during the cold war. That wouldn't fly then. But communists found a nice little trick - they started calling their government departments as "companies" and with some help of the Yuan, Western governments turned a blind eye.

  3. mercyground

    They should have kicked China Telecom out ages ago after their MULTIPLE redirection of internet traffic via BGP misrouting into china.

    Once is a cockup. Multiple times is grounds for revocation of licence and severe fines.

    1. Anonymous Coward
      Anonymous Coward

      It's China Telecom, obviously when they fsck up their BGP, it goes through their network, in China.

      When a US company does the same (and plenty do), it goes through the US instead.

      Obviously the bigger the networks, the more errors are made, since ultimately, it's human beings doing those operations.

      Revocation of license, do you mean that their government seizes all their network equipment and gives it to another company to operate, in the blink of an eye? Even in China, I don't quite see it working well, and in countries like the US, I really don't expect that to be a welcome idea.

  4. Anonymous Coward
    Anonymous Coward

    Royal Cockup

    Meanwhile Wall St. run their own foreign policy. Today in WSJ

    Citigroup Applies for China Securities License

    Wall Street bank joins JPMorgan, Goldman Sachs and others in seeking a deeper foothold in the country

    More stimulus and pension fund money in their pockets than they know what to do with, so they will invest in Xi's 5 year plan.

    What does this have to do with the article? The CPP doesn't want Chinese companies getting investment money IN the US where they will be subject to US laws. (The US has recently tightened booking rules for Chinese companies - c.f. "EXCLUSIVE SEC gives Chinese companies new requirements for U.S. IPO disclosures", Reuters). The effective US reaction to this, led by Wall St., is to then take the money that would have purchased Chinese IPOs and stocks in the US, and instead purchase them in China, under CPP rules and regulations. Brilliant!

    However badly the CPP mangles the Chinese economy through ham fistedness, arrogance, and cruelty, it is still possible the CPP will out-maneuver the arrogant and shallow-clever yet deeply-stupid socially inbred Wall St. US "meritocracy" (mediocracy?), and therefore the US.

    (* And remember Sept 2017 when Goldman bypassed US sanctions on Venezuela to lend $2.8 to Maduro? I'm not commenting on the good/bad of that, just that Trump and the Maduro hating and sanctioning right let that slip by with barely a whimper, just because - Goldman.)

    1. W.S.Gosset Silver badge
      Trollface

      Re: Royal Cockup

      Republican Cockup, shurely?

    2. JDPower666
      Devil

      Re: Royal Cockup

      Not sure 2.8 dollars is worth getting worked up over.

  5. very angry man

    Pot / Kettle/ Black

    The FCC terminated China Telecom Americas Corporation's authority to provide telecom services within the US on 26 October, citing national security risks such as the telco's potential for exploitation, influence and control by the Chinese government, potential espionage, and other harmful activities.

    there was not a mermen from the press when mercia pressured Oz into these same laws , poms already had similar , now everybody has the same bullshit forced on them, mostly by that bully mercia but even the independent's have same laws

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