China National Building Material Group Co Ltd, or CNBM, a centrally administered State-owned enterprise, will focus on supplying high-end building and industrial materials to reinforce China's role in the world's supply chain during the 14th Five-Year Plan period (2021-25), the group's top executive said.
China on Friday expressed opposition to United States President Joe Biden's expansion of restrictions on investments in certain Chinese companies and vowed to take necessary measures to safeguard the legitimate rights of Chinese enterprises.
4 Jun in 13:00
U.S. President Joe Biden on Thursday expanded restrictions on American investments in certain Chinese companies with alleged ties to the country’s military and surveillance efforts, adding more firms to a growing blacklist.
In an executive order, Biden barred U.S. investors from financial interests in 59 Chinese companies over fears of their links to the Chinese government’s geopolitical ambitions, continuing some portions of the tough tact former President Donald Trump took in discussions with Beijing. This E.O. allows the United States to prohibit – in a targeted and scoped manner – U.S. investments in Chinese companies that undermine the security or democratic values of the United States and our allies, the White House said in a press release.