US President Joe Biden has signed a decree to expand the list of Chinese companies in which American individuals and legal entities are prohibited from investing. This was reported on the website of the White House.
Kyiv. Ukraine. Ukraine Gate – June 04, 2021 – International News
The blacklist includes 59 organizations that Washington believes are linked to China’s military-industrial complex. These include Huawei, one of the world’s largest telecommunications companies, China Mobile Communications Group Co., Ltd., China Telecommunications Corporation, and other communications companies.
The list also includes the Chinese State Military-Industrial Company (CASIC), the Chinese Aerospace Science and Technology Corporation (CASC), the Chinese National Nuclear Corporation (CNNC), and the Chinese National Offshore Petroleum Corporation (CNOOC).
The decree prohibits Americans from buying shares in companies that “undermine the security or democratic values of the United States and its allies.” The White House statement also said that China could use technology to monitor, repress and violate human rights.
The ban comes into force on August 2, 2021.
Biden’s decree supplemented the relevant order of his predecessor Donald Trump, who signed it in the last days of his presidency. Such sanctions are provided for in the 1999 law, requiring the Ministry of Defense to compile a catalog of companies owned or controlled by the Chinese military.
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Source: Ukrgate