Biden introduced to “black list” dozens of leading Chinese companies

US President Joe Biden today signed a decree that prohibits Washington to invest in almost 60 Chinese companies. They believed in the White House, “undermine US Security.” The document distributed a white house press service on Thursday.

The prohibition comes into force on August 2, 2021.

In the “black list” there are 59 Chinese companies. Among them are one of the world’s largest telecommunications companies in Huawei Technologies Co., Ltd, as well as a Microelectronics company Semiconductor Manufacturing International Corporation (SMIC), manufacturer of Aviation Industry Corporation of China (AVIC), a range of telecommunications companies: China Mobile Communications Group Co., Ltd., China Telecommunications Corporation, China United Network Communications GROUP Co., Ltd.

Document prohibits “anyone from the United States to participate in the sale or purchase of any securities sold on the stock exchange.”

According to the White House, this decree is designed to contribute to “further response to an emergency declared on November 12, 2020 due to the threat that the military-industrial complex of the PRC represents.