US Government bans investment in Huawei and 58 other Chinese companies

In the latest episode of the US-China geopolitical showdown, President Joe Biden is enforcing a new executive order that bans investment in 59 Chinese companies including Huawei effective from August 2. The new decision prevents US investments in Chinese companies with suspected ties to the Chinese Communist Party. Joining Huawei on the list is chip maker SMIC, telecom operator China Mobile, video surveillance company Hikvision, and a plethora of Chinese defense sector companies. A senior US official confirmed that more Chinese companies will likely be added to the list in the months...