White House expands ban list of Chinese companies – CNET

Huawei logo

Huawei remains on the US blacklist.

Corinne Reichert/CNET

US President Joe Biden on Thursday signed an executive order expanding the number of Chinese companies on the nation’s exclusion list because of alleged links with China’s military. The executive order prohibits “US investments in Chinese companies that undermine the security or democratic values of the United States and our allies.”

There are 59 companies on the list, including technology giant Huawei, Hangzhou Hikvision, Aviation Industry Corporation, China Mobile, China Telecom, China Unicom, Panda Electronics, China Communications Construction Group, China Electronics, China Aerospace, China Spacesat, Semiconductor Manufacturing International and Shaanxi Zhongtian Rocket Technology.

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“The administration will not hesitate to prevent US capital from flowing into the PRC’s defense and related materiel sector, including companies that support the PRC’s military, intelligence and other security research and development programs; or into Chinese companies that develop or use Chinese surveillance technology to facilitate repression or serious human rights abuse,” the White House said in a statement.

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