OUR COMPANY WILL CONTINUE TO BE LISTED AND TRADED ON THE NEW YORK STOCK EXCHANGE. ON THE AFTERNOON OF JANUARY 5TH, CHINA TELECOM DISCLOSED THAT IT RECEIVED A NOTICE FROM THE NEW YORK STOCK EXCHANGE STATING THAT THE EXCHANGE HAS UPDATED ITS DECISION AND REGULATORY AUTHORITIES NO LONGER INTEND TO PROCEED WITH DELISTING ACTIONS AGAINST THE SECURITIES OF THE THREE ISSUERS, INCLUDING CHINA TELECOM'S AMERICAN DEPOSITARY RECEIPTS.CHINA TELECOM HAS STATED THAT IT WILL CONTINUE TO BE LISTED AND TRADED ON THE NEW YORK STOCK EXCHANGE. THE REGULATORY AUTHORITIES OF THE NEW YORK STOCK EXCHANGE WILL CONTINUE TO EVALUATE THE APPLICABILITY OF CHINA TELECOM AND ITS CONTINUED LISTING STATUS.ON THE SAME DAY, CHINA UNICOM ALSO ANNOUNCED THAT ITS RED CHIP COMPANY WILL CONTINUE TO BE LISTED AND TRADED ON THE NEW YORK STOCK EXCHANGE.AFFECTED BY THIS NEWS, THE THREE MAJOR TELECOM OPERATORS COLLECTIVELY OPENED LOWER AND ROSE HIGHER. IN THE HONG KONG STOCK MARKET, CHINA MOBILE ROSE MORE THAN 7% DURING TRADING; CHINA TELECOM ROSE MORE THAN 8% DURING THE TRADING SESSION; ON THE A-SHARE MARKET, CHINA UNICOM ROSE MORE THAN 4% DURING TRADING.ACCORDING TO THE LATEST ANNOUNCEMENT RELEASED BY THE NEW YORK STOCK EXCHANGE ON TUESDAY, THE DELISTING OF CHINA'S THREE MAJOR TELECOMMUNICATIONS OPERATORS WILL NO LONGER CONTINUE, AND THE THREE LISTED COMPANIES WILL CONTINUE TO BE LISTED AND TRADED ON THE NEW YORK STOCK EXCHANGE. BUT THE NEW YORK STOCK EXCHANGE STATED THAT IT WILL CONTINUE TO EVALUATE THE APPLICABILITY OF EXECUTIVE ORDER 13959 TO THESE ISSUERS AND THEIR CONTINUED LISTING STATUS.ON DECEMBER 31, 2020, THE NEW YORK STOCK EXCHANGE ANNOUNCED THAT IT WOULD INITIATE DELISTING PROCEDURES FOR CHINA TELECOM, CHINA MOBILE, AND CHINA UNICOM (HONG KONG), THE THREE MAJOR TELECOMMUNICATIONS OPERATORS LISTED ON THE NEW YORK STOCK EXCHANGE, IN ACCORDANCE WITH RELEVANT REGULATIONS OF THE NEW YORK STOCK EXCHANGE.WITH THE CHANGE OF LEADERSHIP, THE US GOVERNMENT MAY GRADUALLY RETURN TO RATIONALITY, "SAID FU LIANG, AN INDEPENDENT ANALYST IN THE TELECOMMUNICATIONS INDUSTRY, TO A REPORTER FROM SECURITIES DAILY." HOWEVER, WHETHER THE TRANSACTION IS MADE OR NOT HAS NO IMPACT ON 5G, NOR ON THE THREE MAJOR OPERATORS. THE ADR SCALE OF OPERATORS IS SMALL AND NO LONGER MEANINGFULACCORDING TO WANG ZHENGNAN, A SENIOR OBSERVATION EXPERT IN THE COMMUNICATION INDUSTRY, WHETHER OR NOT TO CONTINUE TRADING IN THE US STOCK MARKET, IT WILL NOT HAVE AN IMPACT ON THE PROGRESS OF 5G CONSTRUCTION. THE PROGRESS OF 5G CONSTRUCTION IN CHINA IS WELL FUNDED, AND THE MODELS OF MOBILE BROADCASTING, TELECOMMUNICATIONS, AND CHINA UNICOM HAVE BASICALLY ACHIEVED CO CONSTRUCTION AND SHARING. STARTING FROM THIS YEAR, 5G IS NOT AS URGENT, SO IT WILL NOT HAVE TOO MUCH IMPACT, "SAID WANG ZHENGNAN.AS FOR WHETHER THE CHANGES IN THE US STOCK MARKET WILL DRIVE CHINA MOBILE AND CHINA TELECOM A+H TO GO PUBLIC, FU LIANG TOLD REPORTERS THAT CHINA TELECOM'S SUBSIDIARIES HAVE MULTIPLE A-SHARE LISTED COMPANIES, AND THE POSSIBILITY OF CHINA MOBILE RETURNING TO THE A-SHARE MARKET HAS ALWAYS EXISTED, BUT IS SUBJECT TO POLICY RESTRICTIONS.WANG ZHENGNAN TOLD A REPORTER FROM SECURITIES DAILY THAT HONG KONG STOCKS ARE A FINANCING CHANNEL FOR MANY LARGE ENTERPRISES, AND IT IS NECESSARY TO AVOID CAUSING SIGNIFICANT FLUCTUATIONS IN THE FINANCING CHANNELS OF THE HONG KONG STOCK MARKET. THERE NEEDS TO BE A CERTAIN BUFFER BEFORE IT CAN BE LISTED ON THE A-SHARE MARKET, AND THIS TIME WILL BE VERY LONG, "WANG ZHENGNAN ADMITTED.