Trump bans US investment in firms controlled by Chinese military

Thursday’s action is likely to further weigh on already fraught ties between the world’s top two economies. Photo credit: iStock The Trump administration on Thursday unveiled an executive order prohibiting US investments in Chinese firms that Washington says are owned or controlled by the Chinese military, ramping up pressure on Beijing after the US election. The order, which was first reported by Reuters, could impact some of China’s biggest companies, including telecoms firms China Telecom Corp Ltd, China Mobile Ltd and surveillance equipment maker Hikvision. The move is designed to deter US investment firms, pension funds and others from buying…