US expands investment ban on Chinese companies

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US President Biden blacklists an additional 28 Chinese firms linked to Beijing's 'military-industrial complex' and bars them from American investment – White House

The move expands national emergency over Chinese surveillance technology used to"facilitate repression or serious human rights abuses," which"undermine the security or democratic values of the United States and our allies," The White House says.

Former president Donald Trump had prohibited Americans from buying stakes in 31 Chinese companies that were deemed to be supplying or supporting China's military and security apparatus, and Biden's move expands the blacklist to 59. Before the US order was released, Beijing repeated its outrage at the Trump-era blacklist on Thursday and vowed to protect Chinese companies' rights, claiming the blacklist was "politically motivated" and "ignores the facts and actual situation" of the firms involved.

 

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