US Government Bans Investments in Huawei and 58 other Chinese Companies
The other major companies in the list are 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 face a ban in the coming months. With the new sanctions in place, President Biden is reinforcing the hard stance against China’s intelligence and security research firms, which peaked during former President Donald Trump’s four-year term. He also gave a one-year period to US investment companies and individuals to divest any funds in the newly banned companies. Huawei is already striving hard after a ban imposed buy former president of US. It has sold out its famous brand, Honor, just an attempt to survive in the market. Now, it has rolled out its own operating system, Harmony. Check Also: In a Fight for Survival, Huawei Rolls Out a New Operating System
