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Updated June 4, 2021
File photo: US President Joe Biden speaks on the American Jobs Plan, following a tour of Tidewater Community College in Norfolk, Virginia on May 3, 2021.
MANDEL NGAN / AFP
Beijing accused the United States of “suppressing” Chinese firms and issued veiled threats of a retaliation Friday, after President Joe Biden expanded a blacklist of companies Americans are barred from investing in.
Biden on Thursday widened a list to 59 Chinese companies that are off-limits to American investors over their links to Beijing’s “military-industrial complex”, as he maintains a campaign of pressure on the Asian superpower.
His predecessor Donald Trump in November issued a list of 31 Chinese companies that were deemed to be supplying or supporting China’s military and security apparatus, adding more firms earlier this year.
WASHINGTON, June 4 US President Joe Biden on Thursday expanded a blacklist of Chinese firms that are off-limits to American investors over their links to Beijing’s “military-industrial complex,” in a sign of Washington’s continued pressure campaign against the Asian power. Former.
Donald Trump prohibited Americans from buying stakes in 31 Chinese companies that were deemed to be supplying or supporting China s military and security apparatus. The list included major telecoms, construction and technology firms such as China Mobile, China Telecom, video surveillance firm Hikvision, and China Railway Construction Corp.
Joe Biden intends to this week overhaul a list of Chinese firms that US investors are allowed to own shares in, as the president re-evaluates the world powers' post-Trump relationship while maintaining pressure on Beijing.
The ban "severely undermines normal market rules and order" and "damages . the interests of global investors including US investors," foreign ministry spokesman Wang Wenbin said at a routine briefing.