U.S. President Joe Biden is continuing ex-President Donald Trump's tough stance against China with regards to its usage of the U.S. financial system.
The U.S. president has signed an executive order on Thursday that prohibits Americans from investing in 59 Chinese firms believed to be linked to China's military, «The New York Times» reported on Thursday.
Many of the companies on the blacklist are engaged in selling surveillance technology used to repress dissent or religious minorities both in China and abroad, including Muslim minorities like the Uyghurs and dissidents in Hong Kong.
Growing Blacklist
Biden's order expands Trump's blacklist of 31 companies, which included the likes of surveillance firm Hikvision, semiconductor maker SMIC, smartphone maker Xiaomi and cloud software platform Luokung Technology.
The expanded blacklist, which takes effect on August 2, includes companies like Aero Engine Corp. of China, Aerosun, Fujian Torch Electron Technology and Huawei Technologies.
According to Biden's aides, the move was justified by a new American commitment not to facilitate Chinese repression and human rights abuses, the report said.
