Joe Biden Bans Investment in Dozens of Chinese Firms
Chinese investors shrugged off the list, with most of the stocks named, including newly-added ones, making gains on Friday morning.
FILE PHOTO: U.S. President Joe Biden delivers remarks on the U.S. economy in the East Room at the White House in Washington, U.S., May 10, 2021. REUTERS/Kevin Lamarque/File Photo
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Washington: President Joe Biden signed an executive order on Thursday that bans US entities from investing in dozens of Chinese companies with alleged ties to defence or surveillance technology sectors, a move his administration says expands the scope of a legally flawed Trump-era order.
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…
WASHINGTON: 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 his administration says expands the scope of a legally flawed Trump-era order.
Biden Order to Ban Investment in 59 Chinese Defense, Tech Firms
04 Jun 2021, 06:05 GMT+10
WASHINGTON - The Biden administration will issue a new executive order on Thursday that bans U.S. entities from buying or selling publicly traded securities for 59 Chinese companies with alleged ties to defense or surveillance technology sectors, senior administration officials said.
The Treasury Department will enforce and update on a rolling basis the new ban list, which replaces one from the Department of Defense, the officials, noting the policy would take effect on Aug. 2.
The new order, which is an effort to make a similar Trump-era prohibition more legally sound, signals the administration s intent to ensure that U.S. persons are not financing the military industrial complex of the People s Republic of China, one of the senior officials told reporters.
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WASHINGTON The Biden administration will issue a new executive order on Thursday that bans U.S. entities from buying or selling publicly traded securities for 59 Chinese companies with alleged ties to defence or surveillance technology sectors, senior administration officials said.
The Treasury Department will enforce and update on a “rolling basis” the new ban list, which replaces one from the Department of Defense, the officials, noting the policy would take effect on Aug. 2.
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