Salem Radio Network News Sunday, August 1, 2021

Business

China criticises removal of more Chinese stocks from U.S. index

BEIJING (Reuters) – China said on Friday it resolutely opposed what it said was the United States’ tendency to politicise economic issues, after a major U.S. shares index removed more Chinese stocks following an executive order by the Biden administration.

As China’s capital markets continue to reopen, the fact that some Chinese companies are not included on certain indices will not stop international investors from investing in them, foreign ministry spokesman Wang Wenbin told a news briefing.

The S&P Dow Jones Indices and FTSE Russell late on Wednesday decided to remove more Chinese companies from their indices after an updated U.S. executive order barred domestic investment in firms with alleged ties to China’s military.

(Reporting by Cate Cadell; Editing by Gareth Jones)

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