Biden order bans investment in dozens of Chinese defense and tech firms

The order prevents U.S. investment from supporting the Chinese military-industrial complex, as well as military,intelligence, and security research and development programs.

(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors, a move his administration says expands the scope of a legally flawed Trump-era order. The Treasury Department will enforce and update on a "rolling basis" the new ban list of about 59 companies, which bars buying or selling publicly traded securities in target companies, and replaces an earlier list from the Department of Defense, senior administration officials told reporters.