Trump bans US investments in Chinese companies linked to Chinese military

by



[ad_1]

The ordinance applies to 31 Chinese companies which it claims “enable the development and modernization” of the Chinese military and “directly threaten” US security.

Smartphone maker Huawei and Hikivision, one of the world’s largest manufacturers and suppliers of video surveillance equipment, are among the companies on the blacklist. Some of the other listed companies, including China Telecom and China Mobile, are listed on the New York Stock Exchange.

Trump’s order also prohibits U.S. investors from owning or trading in securities that originate from or are exposed to these companies. This includes pension funds or the holding of shares in companies which are prohibited. Investors will have until November 2021 to divest from one of the companies.

The order, which is due to go into effect on January 11, comes as business and technology battles intensify between the world’s two largest economies.

This story is developing.

[ad_2]

Source link