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The new executive order continues the policy of prohibiting US persons’ transactions in the publicly traded securities of select Chinese companies, but expands the scope to include both Chinese companies that operate or have operated in the defense and related materiel sector and those in the surveillance technology sector of the economy of the People s Republic of China.
On June 3, 2021, President Joseph Biden issued Executive Order 14032 (EO 14032), which amends Executive Order 13959, continuing the prohibition against US person investments in securities of companies identified as having ties to China’s military sector, and adding companies that are determined to be involved with China’s “surveillance technology sector.” The new order, titled