President Joe Biden bars US investors from 59 Chinese firms as national security measure

The executive order prohibits direct investment in both debt and equity securities but also bans Americans from investing in funds that contain Chinese securities in their portfolios.

Washington: US President Joe Biden`s administration has banned American investors from investing in 59 defence and surveillance technology Chinese companies to stop US capital from being used by Beijing to undermine national security. President Joe Biden on Thursday (local time) signed an executive order banning investments in 59 corporations, together with marquee Chinese language teams resembling Huawei, the telecoms tools producer, and semiconductor manufacturing worldwide company, China`s largest chipmaker, which the US says is crucial to the Chinese navy language, said an ANI report. According to the President's order, the ban on Chinese companies was put in lieu of the threats posed by the military-industrial complex of the People`s Republic of China (PRC) and its involvement in military, intelligence, and security research and development programs, and weapons and related equipment production under the PRC`s military-civil Fusion strategy.