Three major telecom providers were dropped by Citigroup Zhu Rongji twenty years of hard work into nothing

Three major telecom providers were dropped by Citigroup as the powerful (Chinese Communist Party) government gets darker and darker. File photo

On the last day of 2020 (last Thursday, 31), the New York Stock Exchange (NYSE) announced that in order to comply with the executive order issued by the President of Citigroup in November, which prohibits Citigroup from investing in “powerful companies with military background”, it will start the process of delisting the three major telecommunication companies of the powerful country (mainland China), namely China Mobile, China Telecom and China Unicom (Hong Kong).

The response of the government of the powerful country to this incident can be said to be “the darker it gets”. The spokesman of the SFC of the strong country said on Sunday (3) that the “combined market capitalization of the three companies is less than RMB 20 billion”, “the liquidity is insufficient, the trading volume is very small”, and “the financing function is missing”; thus concluding that “even if the delisting is done, the direct impact on the development of the companies and the market operation is quite limited”.

If the whistle blower had three companies listed in Citigroup, but surprisingly, there were problems such as “illiquidity, small trading volume” and “lack of financing function”, the whistle blower would definitely go home and think behind closed doors to see what went wrong!

This incident also announced the complete failure of the reform and opening up of the former Premier Zhu Rongji of the powerful country for more than 20 years “internationalization of communication technology”! Looking back more than 20 years ago, the cell phones in the powerful country were still using the GSM system, and China’s cell phone capacity was already the second largest in the world, but Premier Zhu decided to adopt Citi’s CDMA system at the same time. The State Council appointed Unicom to introduce this technology from Citi to the outside world. In retrospect, Premier Zhu was strategically ahead of the game when he made every effort to connect with Citi; looking at the three major telecom providers in Citi today, the whistle blowers really feel saddened!