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WASHINGTON: Washington is ready to designate four more Chinese companies backed by the Chinese military, the sources said, holding back their access to American investors as the Trump administration seeks to cement its China legacy in its final days.
The designations, which have not been previously reported, could be released by the Department of Defense as soon as Friday (Nov. 21), but could be revealed next week, said a U.S. official and a person familiar with the matter who declined. to be identified.
The White House did not immediately respond to a request for comment.
LEE: Trump prohibits US investments in companies linked to the Chinese army
The additions would bring the number of Chinese companies affected to 35. These include giants like Hikvision China Telecom Corp and China Mobile, which were added earlier this year.
The list of “Chinese Communist Military Companies” was mandated by a 1999 law that requires the Pentagon to compile a catalog of companies “owned or controlled” by the People’s Liberation Army, but the defense department only complied this year.
The latest move would come just days after the White House issued an executive order, first reported by Reuters, that sought to strengthen the list by prohibiting US investors from buying securities of blacklisted companies starting in November. 2021.
The directive is unlikely to deal a serious blow to companies, experts said, due to its limited scope, uncertainty about the position of the incoming Biden administration and already scarce holdings of US funds.
