U.S. officials are considering prohibiting Americans from investing in Alibaba Group Holding Ltd. and Tencent Holdings Ltd. , said people familiar with the matter.
In recent weeks, State Department and Department of Defense officials have held conversations on expanding a blacklist of companies that are prohibited to U.S. investments because of claimed ties to China’s military and security services. The U.S. governmentThe departments have debated with the Treasury Department over whether adding these firms could have wide capital-markets ramifications, the people said.
Tencent and Alibaba are China’s two most-valuable publicly listed companies with a combined market capitalization of over $1.3 trillion, and their shares are held by scores of U.S. mutual funds and other investors. If enacted, the move would be a major escalation by the exiting Trump administration on its efforts to unwind U.S. investors’ holdings in major Chinese companies.
The Trump administration has stepped up efforts to sanction Chinese companies in its final days. On Wednesday, the New York Stock Exchange said it will move ahead to delist China’s three biggest telecommunication carriers, backtracking an earlier decision to scrap the plan after receiving “new specific guidance” from the Treasury Department.
Lol trump administration? He gone soon
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.