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The executive order said that the Chinese government forces private companies to support these activities and, through capital markets, “exploits American investors to finance the development and modernization of its armed forces.”
US President Donald Trump visits his campaign headquarters in Arlington, Virginia, on November 3, 2020. Image: AFP.
WASHINGTON – US President Donald Trump signed an order Thursday that will prohibit Americans from investing in Chinese companies that could help Beijing’s military and security apparatus.
The executive order said that the Chinese government forces private companies to support these activities and, through capital markets, “exploits American investors to finance the development and modernization of its armed forces.”
The ban goes into effect on January 11, just days before Trump’s presidency ends, and is the latest move in America’s increasingly strained relations with the Asian powerhouse.
Investors have until November 11, 2021 to dispose of any participation in the prohibited companies, according to the order.
Trump’s statement said that American investors are helping China “directly threaten the United States homeland and American forces abroad, including through the development and deployment of weapons of mass destruction, advanced conventional weapons and enabled malicious actions. by cybernetic means against the United States and its people. ” “
A statement by National Security Advisor Robert O’Brien said the order will prevent Americans from inadvertently supporting Chinese military actions.
“The president’s action serves to protect US investors from the inadvertent infusion of capital aimed at enhancing the capabilities of the intelligence services of the People’s Liberation Army and the People’s Republic of China, which routinely target US citizens and businesses. through cyber operations and directly threaten the critical infrastructure, economy and military of the United States and its allies and partners around the world, “the statement said.
The ban is targeting 31 companies, including telecommunications, aerospace and construction companies, according to press reports.
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