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Biden order bans investment in Chinese defense, surveillance firms

The White House effort builds on Trump-era orders regarding companies linked to the Chinese military.

The Huawei logo with smudges over it

Biden built on prior White House efforts against Chinese military-linked firms by banning investment in Chinese defense and surveillance companies.

Image: Richard Slade and Protocol

President Joe Biden signed an order banning investment in Chinese defense and surveillance firms such as camera-maker Hikvision and the telecom equipment firm Huawei, the White House announced on Thursday.

The order, which lists 59 companies by name, built on prior White House efforts, particularly an order last year from then-President Donald Trump banning investment in firms controlled by the Chinese military. That order had faced legal challenges and confusion over its scope.

Trump had also previously banned Huawei gear from U.S. telecom networks as part of an escalation by several Western countries against the company over its purported ties to the government in Beijing.

The U.S. Treasury Department will now oversee the list, rather than the Department of Defense.

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