U.S. companies ordered to divest from defense, tech firms in China 07 Jun 2021, 14:16 GMT+10 WASHINGTON D.C.: Expanding the scope of a Trump-era order, President Joe Biden signed an executive order late last week banning U.S. entities from investing in Chinese companies with alleged ties to the defense or surveillance technology sectors, part of his broader series of steps to counter China. The order prevents U.S. investment entities from supporting the Chinese military-industrial complex, as well as military, intelligence, and security research and development programs, according to the order. The Treasury Department will enforce and update on a "rolling basis" the new list of some 59 Chinese companies, which bars buying or selling publicly traded securities in target companies, and replaces an earlier list from the Department of Defense, senior administration officials told reporters.