File photo: US President Joe Biden makes a statement of a police shooting in Minnesota in the Oval Office of the White House after a meeting with members of Congress about the American Jobs Plan April 12, 2021, in Washington, DC. Brendan Smialowski / AFPUS President Joe Biden on Thursday expanded a blacklist of Chinese firms that are off-limits to American investors over their links to Beijing’s “military-industrial complex,” in a sign of Washington’s continued pressure campaign against China.
The initial list published under Trump included major telecoms, construction and technology firms such as China Mobile, China Telecom, video surveillance firm Hikvision, and China Railway Construction Corp. The ban “severely undermines normal market rules and order” and “damages… the interests of global investors, including US investors,” foreign ministry spokesman Wang Wenbin said at a routine briefing.Previously, the sanctions and choice of targets were tied to a congressionally mandated Defense Department report.
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