President Joe Biden has nearly doubled the list of Chinese companies whose shares are off-limits to U.S. investors. The executive order issued late Thursday says it is intended to “solidify and strengthen” an order issued last year by his predecessor Donald Trump by strengthening controls on investments in Chinese defense and surveillance technology firms. That includes companies that contribute to surveillance of religious and ethnic minorities or to repression and “serious human rights abuses.” Telecoms equipment maker Huawei Technologies, China’s big state-owned telecoms companies and China National Offshore Oil Corp. are on the new list of 59 companies. The earlier list included 31.
The post Biden widens list of Chinese firms off-limits for investment appeared first on WEEK.