US President Joe Biden has signed a decree banning Americans from investing in nearly 60 companies in China that help track people both in China and abroad. This is stated in an official statement published on Thursday on the official website of the White House. The restrictions on investing in the Chinese companies take effect at 12:01 A.M. Washington on August 2, 2021.
” This E.O. prevents U.S. investment from supporting the Chinese defense sector, while also expanding the U.S. Government’s ability to address the threat of Chinese surveillance technology firms that contribute — both inside and outside China — to the surveillance of religious or ethnic minorities or otherwise facilitate repression and serious human rights abuses,” the document states.
The defence material companies include Aero Engine Corporation of China; Aerospace CH UAV Co., Ltd; Aerospace Communications Holdings Group Company Limited; Aerosun Corporation; Anhui Greatwall Military Industry Company Limited; Aviation Industry Corporation of China, Ltd.; AVIC Aviation High-Technology Company Limited; AVIC Heavy Machinery Company Limited; AVIC Jonhon Optronic Technology Co., Ltd.; AVIC Shenyang Aircraft Company Limited; AVIC Xi’An Aircraft Industry Group Company Ltd.; Changsha Jingjia Microelectronics Company Limited China Academy of Launch Vehicle Technology; China Aerospace Science and Industry Corporation Limited; China Aerospace Science and Technology Corporation; China Aerospace Times Electronics Co., Ltd; China Avionics Systems Company Limited; China Communications Construction Company Limited; China Electronics Technology Group Corporation; China General Nuclear Power Corporation; China Marine Information Electronics Company Limited; China Mobile Communications Group Co., Ltd.; China National Nuclear Corporation; China National Offshore Oil Corporation; China North Industries Group Corporation Limited; China Nuclear Engineering Corporation Limited; China Railway Construction Corporation Limited; China Satellite Communications Co., Ltd.; China Shipbuilding Industry Company Limited; China Shipbuilding Industry Group Power Company Limited; China South Industries Group Corporation; China Spacesat Co., Ltd.; China State Shipbuilding Corporation Limited; China Telecommunications Corporation; China United Network Communications Group Co., Ltd.; Costar Group Co., Ltd.; CSSC Offshore & Marine Engineering (Group) Company Limited; Fujian Torch Electron Technology Co., Ltd.; Guizhou Space Appliance Co., Ltd; Hangzhou Hikvision Digital Technology Co., Ltd.; Huawei Technologies Co., Ltd.; Inner Mongolia First Machinery Group Co., Ltd.; Inspur Group Co., Ltd.; Jiangxi Hongdu Aviation Industry Co., Ltd.; Nanjing Panda Electronics Company Limited; North Navigation Control Technology Co., Ltd.; Panda Electronics Group Co., Ltd.; Semiconductor Manufacturing International Corporation; Shaanxi Zhongtian Rocket Technology Company Limited; and Zhonghang Electronic Measuring Instruments Company Limited.
The Surveillance Technology companies include Hangzhou Hikvision Digital Technology Co., Ltd. and Huawei Technologies Co., Ltd.
The other companies which have been included in the list based on ownership and or above mensioned sectors include China Communications Construction Group (Limited); China Electronics Corporation; China Mobile Limited; China Telecom Corporation Limited; China Unicom (Hong Kong) Limited; CNOOC Limited; Huawei Investment & Holding Co., Ltd.; Panda Electronics Group Co., Ltd.; Proven Glory Capital Limited; and Proven Honour Capital Limited.
“This E.O. allows the United States to 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,” said the statement.