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Trump bans US investments in firms linked to the Chinese military The Trump administration unveiled an executive order prohibiting US investments in Chinese firms that Washington says are owned or controlled by the Chinese military, ramping up pressure
WASHINGTON (Reuters) - The Trump administration on Thursday unveiled an executive order prohibiting U.S. investments in Chinese firms that Washington says are owned or controlled by the Chinese military, ramping up pressure on Beijing after the U.S. election. The order, which was first reported by Reuters, could impact some of China's biggest companies, including telecoms firms China Telecom Corp Ltd <0728.HK>, China Mobile Ltd
<0941.HK> and <002415.SZ>.
surveillance
equipment
maker
Hikvision
The move is designed to deter U.S. investment firms, pension funds and others from buying shares of 31 Chinese companies that were designated by the Defense Department as backed by the Chinese military earlier this year. Starting Jan. 11, the order will prohibit purchases by U.S. investors of the securities of those companies. Transactions made in order to divest ownership in the companies will be permitted until Nov. 11, 2021. "China is increasingly exploiting United States capital to resource and to enable the development and modernization of its military, intelligence, and other security apparatuses," said the order released by the White House...Read More