Trump Administration Bans US Investment in Military-Linked Chinese Firms

A new executive order will prohibit investment in almost three dozen firms identified as being backed by the Chinese military. The outgoing Trump administration has unveiled an executive order banning US investment in Chinese firms that it says are owned or controlled by the Chinese military, adding further economic pressure on Beijing. The order has the potential to impact some of the largest Chinese companies, including telecom companies China Mobile Ltd, China Telecom Ltd and surveillance equipment producer Hikvision. From 11 January 2021, the order will prohibit US investment firms and pension funds from purchasing the securities of 31 Chinese…