US Restricting Trade in Publicly Traded China Securities

President Biden issued an Executive Order (EO) that affirms and re-defines the Trump administration policy of restricting the purchase or sale of publicly traded securities (and derivatives of such securities) of certain Chinese companies that have been identified as a threat to U.S. national security interests. The new U.S. sanctions program established by this EO rescinds and supersedes the previous Office of Foreign Sanctions (OFCA) Chinese Military Companies Sanctions (CCMC) sanctions regime imposed by the Trump administration in November 2020 effective immediately. Corresponding new OFAC FAQ guidance also supplants guidance on the previous CCMC measures issued under the Trump administration. A two-month effective grace period applies to the new sanctions measures before they become effective on 2nd August 2021.

>> MORE NEWS