Daily US Times: US President Donald Trump has banned American investments in Chinese firms the government determines have ties to the Chinese military.
Mr Trump issued an order accusing China of “increasingly exploiting” US investors “to finance the development and modernisation of its military.”
The ban is to go into effect in January.
The bars in investments could affect some of China’s biggest publicly-listed firms, including China Telecom and Hikvision.
Throughout his administration, President Donald Trump has made efforts to disentangle the US from its close economic ties with China.
He has raised border taxes on billions of dollars worth of Chinese goods and imposed sanctions on some of China’s tech companies.
Relations between Beijing and Washington have also soured over issues such as coronavirus, and China’s moves in Hong Kong.
The White House Officials said the new order had been under review for months. It applies to shares owned indirectly or directly in 31 firms identified by the US earlier this year as backed by the Chinese military, a list that includes large state-owned construction companies and tech firms among others.
US investors have a year to comply with the rules.
Mr Trump, who recently lost the presidential election to Joe Biden, is due to leave the presidency shortly after the order goes into effect.
Mr Biden has not yet outlined his strategy about China, but during his campaign he promised to challenge the Chinese government on similar issues as Mr Trump, including cyber-theft and trade abuses.
You may read: China congratulated Biden after long silence
