Biden bans investment in dozens of Chinese firms

US President Joe Biden has signed an executive order prohibiting Americans from investing in dozens of Chinese firms. It alleges that companies with ties to Beijing have been developing surveillance technology related to human rights violations.

President Biden said in his statement that the use of Chinese technology to facilitate serious human rights abuses constitutes a threat to US national security and policy.

The order expands on one issued by then-president Donald Trump in November last year. It banned US investment in stocks for some Chinese firms, including telecom giant Huawei.

The Biden administration has been critical of China over human rights issues in the Xinjiang Uygur Autonomous Region.

The White House says a total of 59 firms will be on the list when the new order takes effect on August 2.