Chinese businesses take the new blow from President Trump


President Trump’s new decree could impact some of China’s top companies, including telecom firm Telecom Corp Ltd, China Mobile Ltd and surveillance equipment maker Hikvision.

The two previous victims of President Donal Trump were TikTok and Wechat (Source: GettyImages)

Administration of the President of America Donald Trump November 12 announced an executive order prohibiting investment activities America into Chinese companies that Washington believes are military-related.

The decree could affect some of China’s top companies, including telecom Telecom Corp Ltd, China Mobile Ltd and surveillance equipment manufacturer Hikvision.

The move is to prevent US investors from buying and selling stakes in 31 Chinese companies that the US Department of Defense identifies as being related to the military.

The ordinance takes effect from January 11, 2021, just a few days before President Trump ends his current term.

Design by NewsLax