U.S. bans investment in 59 Chinese tech companies



Photo credit: Paul Thurrott

President Joe Biden signed an executive order banning U.S. investments in 59 Chinese tech companies with military ties, extending an executive order issued by his predecessor.

“Further measures are needed to address the national emergency declared in Executive Decree 13959 of November 12, 2020, including the threat posed by the military-industrial complex of the People’s Republic of China (PRC) and its involvement in the army, intelligence and security. research and development programs, and the production of weapons and related equipment as part of the PRC’s military-civilian fusion strategy ”, the executive decree bed. “In addition, I find that the use of Chinese surveillance technology outside the PRC and the development or use of Chinese surveillance technology to facilitate law enforcement or serious human rights abuses constitute unusual threats and extraordinary, which have their source in whole or in part outside the United States, to the national security, foreign policy and economy of the United States.

The previous US administration had acted unilaterally against Huawei and a handful of other Chinese tech companies, but the November 2020 order expanded the US ban to include more companies suspected of having ties to the Chinese military. . This new order builds on that earlier order – which the Biden administration describes as poorly drafted and containing no clear factual basis – by adding companies that manufacture surveillance technology the Chinese have used to suppress minorities and dissidents. .

Huawei, obviously, is on the new list – I guess we could call it a founding member – but I hardly recognize any of the other company names, many of which start with the word “China”.

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