(VOVWORLD) - President Donald Trump has signed an order strengthening a November ban on US investments in alleged Chinese military companies, the White House said on Wednesday.
 US President Donald Trump (photo: AFP) |
The move aims to curb Chinese access to US capital markets days before he leaves office.
Under the amended directive, by November 11, 2021, US investors will be required to have completely divested holdings of securities of companies designated by the Defense Department as owned or controlled by the Chinese military.
The change expands the scope of the initial November executive order, which initially only restricted US investors from buying those securities by that date.
A senior administration official said the the executive order ensures that the United States retains a key tool to protect US investors from funding Chinese military modernization.