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Biden bans 59 Chinese military, surveillance firms from US securities trading

The executive order also prohibits “United States persons from engaging in the purchase or sale of any publicly traded securities” with the listed Chinese companies or individuals determined to be connected with them

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Washington: The Biden administration has banned 59 Chinese military and surveillance firms from trading in US securities, the White House announced on Thursday.

“Today, President Biden signed an Executive Order to further address the ongoing national emergency declared in … November 12, 2020 with respect to the threat posed by the military-industrial complex of the People’s Republic of China,” the White House said in a statement. It said the 59 names listed in the current order “prohibit – in a targeted and scoped manner – U.S. investments in Chinese companies that undermine the security or democratic values of the United States and our allies.”

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The executive order also prohibits “United States persons from engaging in the purchase or sale of any publicly traded securities” with the listed Chinese companies or individuals determined to be connected with them, the statement said.

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