CHU - Biden is said likely to keep Trump's China investment ban

The Biden administration is expected to keep limits on U.S. investments in some Chinese companies that were imposed by the Trump administration.Biden officials are in preliminary discussions around Trump's investment ban on companies connected to China's military, according to a Bloomberg report.The Trump ban included three of China's biggest telecom companies, including China Mobile (CHL), China Telecom (CHA) and China Unicom (CHU). Recall that in January the telco companies were delisted from the NYSE.Last May, the  U.S. Commerce Department added 33 Chinese firms and governmental institutions to an economic blacklist for allegedly helping Beijing spy on its minority Uighur population or for their ties to China's military and weapons of mass destruction.In November it was reported that Trump administration was set to add China's SMIC, CNOOC to defense-related blacklist.

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Biden is said likely to keep Trump's China investment ban