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59 Chinese Companies Face A Ban In The USA

Joe Biden, President of the USA, has imposed a ban on 59 Chinese companies. In addition, US firms are prohibited from taking part in Chinese corporations that allegedly have ties with the military. The President added other companies to this list, too, leaving the Chinese in a rage; the investors in the US in dismay and surprise.

 

Reportedly, this new prohibition of investment is all set to be put in force from August 2 at 12:01 a.m. in New York, and investors will be provided with a one-year time limit to complete all their divestments. In addition, on Thursday, June 2, President Biden issued an executive order that states that 59 Chinese companies will be barred from receiving any American investment.

 

List of the banned Chinese companies:

According to reports, here is a list of all the companies which Joe Biden has blacklisted. Some of the companies on the list are well-known military giants. The companies are:

  1. Aero Engine Corporation of China
  2. Aerospace CH UAV Co., Ltd
  3. Aerospace Communications Holdings Group Company Limited
  4. Aerosun Corporation
  5. Anhui Greatwall Military Industry Company Limited
  6. Aviation Industry Corporation of China, Ltd
  7. AVIC Aviation High-Technology Company Limited
  8. AVIC Heavy Machinery Company Limited
  9. AVIC Jonhon Optronic Technology Co., Ltd
  10. AVIC Shenyang Aircraft Company Limited
  11. AVIC Xi’an Aircraft Industry Group Company Ltd
  12. Changsha Jingjia Microelectronics Company Limited China Academy of Launch Vehicle Technology
  13. China Aerospace Science and Industry Corporation Limited
  14. China Aerospace Science and Technology Corporation
  15. China Aerospace Times Electronics Co., Ltd
  16. China Avionics Systems Company Limited
  17. China Communications Construction Company Limited
  18. China Electronics Technology Group Corporation
  19. China General Nuclear Power Corporation
  20. China Marine Information Electronics Company Limited
  21. China Mobile Communications Group Co., Ltd.
  22. China National Nuclear Corporation
  23. China National Offshore Oil Corporation
  24. China North Industries Group Corporation Limited
  25. China Nuclear Engineering Corporation Limited
  26. China Railway Construction Corporation Limited
  27. China Satellite Communications Co., Ltd.
  28. China Shipbuilding Industry Company Limited
  29. China Shipbuilding Industry Group Power Company Limited
  30. China South Industries Group Corporation
  31. China Spacesat Co., Ltd.
  32. China State Shipbuilding Corporation Limited
  33. China Telecommunications Corporation
  34. China United Network Communications Group Co., Ltd.
  35. Costar Group Co., Ltd.
  36. CSSC Offshore & Marine Engineering (Group) Company Limited
  37. Fujian Torch Electron Technology Co., Ltd.
  38. Guizhou Space Appliance Co., Ltd.
  39. Hangzhou Hikvision Digital Technology Co., Ltd.
  40. Huawei Technologies Co., Ltd.
  41. Inner Mongolia First Machinery Group Co., Ltd.
  42. Inspur Group Co., Ltd.
  43. Jiangxi Hongdu Aviation Industry Co., Ltd.
  44. Nanjing Panda Electronics Company Limited
  45. North Navigation Control Technology Co., Ltd.
  46. Panda Electronics Group Co., Ltd.
  47. Semiconductor Manufacturing International Corporation
  48. Shaanxi Zhongtian Rocket Technology Company Limited
  49. Zhonghang Electronic Measuring Instruments Company Limited
  50. Hangzhou Hikvision Digital Technology Co., Ltd.
  51. Huawei Technologies Co., Ltd.
  52. China Communications Construction Group (Limited)
  53. China Electronics Corporation
  54. China Mobile Limited
  55. China Telecom Corporation Limited
  56. China Unicom (Hong Kong) Limited
  57. CNOOC Limited
  58. Huawei Investment & Holding Co., Ltd.
  59. Panda Electronics Group Co., Ltd.

Quite a long list of companies, isn’t it? But, according to team Biden, this change was necessary to ensure that everything is legal and long-term viable.

wiliam saxena
Wiliam is from content strategy department. He has a keen eye for any new development that could rock our world. He is adept at strategizing to boost web traffic. He is also an expert in Google Analytics, something which he feels could go a long way in getting sites more traction by providing necessary insights.
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