China says U.S. behaviour towards telcos shortsighted

FILE PHOTO: Chinese Foreign Ministry spokeswoman Hua Chunying attends a news conference in Beijing, China January 7, 2021. REUTERS/Florence Lo

BEIJING (Reuters) – China’s foreign ministry on Friday said the United States’ behaviour towards three of its telecoms companies is shortsighted, after global index providers cut the telcos from benchmark indices.

The behaviour will undermine U.S. interests, foreign ministry spokeswoman Hua Chunying said at a regular briefing.

Global index providers MSCI Inc and FTSE Russell said they would cut three Chinese telecom companies from their benchmarks in response to a U.S. investment ban, crushing the share prices and widening the fallout from U.S. sanctions.

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