Biden extends investment ban on some China firms

US President Joe Biden has extended a Trump-era ban on American investment in Chinese companies that Washington deems controlled by their country's military.

Biden announced the one-year extension on Tuesday. He said China is expanding its military-industrial complex by compelling civilian Chinese companies to support its military and intelligence activities.

He added that the complex continues to constitute an extraordinary threat to the United States' security, foreign policy and economy.

The relevant executive order first signed by Biden's predecessor Donald Trump last November covers more than 50 Chinese firms.
They include tech giant Huawei, China Mobile Communications and Chinese state-owned firms engaged in weapons and space development programs.

In June the Biden administration expanded the list by adding developers of surveillance technology that allows repression or serious human rights abuse.