Biden order bans investment in dozens of Chinese defense and tech firms

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Via InquirerUSA Biden order bans investment in dozens of Chinese defense and tech firms

Major Chinese firms included on the previous Defense Department list were also placed on the updated list, including Aviation Industry Corp of China , China Mobile Communications Group, China National Offshore Oil Corp , Hangzhou Hikvision Digital Technology Co Ltd, Huawei Technologies Ltd and Semiconductor Manufacturing International Corp .

Biden has been reviewing a number of aspects of U.S. policy toward China, and his administration had extended a deadline for implementation set by former President Donald Trump’s order while it crafted its new policy framework. “We really want to make sure that any future prohibitions are on legally solid ground. So, our first listings really reflect that,” a second senior administration official said.The order said the ban would take effect on Aug. 2 for those companies currently listed. U.S.

 

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