Trump administration readies crackdown on US investments in Chinese firms: Report

WASHINGTON: The Trump administration plans to unveil an executive order to prohibit US investments in Chinese firms that Washington says are owned or controlled by the Chinese military, according to three sources familiar with the matter, ramping up pressure on Beijing after the US election.

The order, which could impact some of China's biggest companies, including telecoms firms China Telecom Corp, China Mobile and surveillance equipment maker Hikvision, could be released as soon as Thursday, two US officials and one other person familiar with the matter said.One of the sources said US President Donald Trump had already signed the order.

One of the sources, a US official speaking on the condition of anonymity, said an executive order and statement from the NSC was expected as early as Thursday"on protecting investors from funding these companies."

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