Biden strikes another blow at Beijing with new executive order that nearly doubles the number of Chinese companies US investors can t buy stock in
Biden signed executive order that bans US companies from investing in Chinese businesses with alleged ties to defense or selling surveillance technology
Order came because of the unusual and extraordinary threats posed by Chinese spy technology on democracy
Biden has attacked authoritarian regimes such as China and Russia
China reacted with fury as order further strains US relations with Beijing The U.S. government is stretching the concept of national security, abusing national power and using every possible means to suppress and restrict Chinese enterprises, a spokesman for Chinese government said
Making their shares off-limits to U.S. buyers is the latest sign he isn't softening Washington's stance toward Beijing, which strongly condemned the move.
President Biden has issued an investment ban order against some Chinese companies, Reuters reports. Sanctions against Chinese companies are not new, and
President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors, a move…
US President Joe Biden on Thursday signed an order to amend a ban on US investment in Chinese companies begun under former US president Donald Trump, naming 59 firms with ties to China’s military or in the surveillance industry, including Huawei Technologies Co (華為) and the country’s three biggest telecommunications firms.
The ban on new investments is to take effect on Aug. 2 at 12:01am in New York, said administration officials, who briefed reporters on condition of anonymity.
Investors will have one year to fully divest, the officials said.
Biden’s order is largely a continuation of a policy issued by Trump. Biden’s position