The US government will allow Americans to continue investing in Chinese technology giants Alibaba Group Holding Limited, Tencent Holdings Limited and Baidu Inc.
New York-listed Alibaba and Baidu and Hong Kong-listed Tencent are being considered for inclusion in the Pentagon’s list, which is considered to support China’s military, intelligence and security services, according to people familiar with the matter. It was one of 12 companies. US investors must sell their holdings of listed companies by November.
The United States no longer plans to add three companies to the list. Nine other Chinese companies have been added, and more than 100 subsidiaries are already on the list.
The decision concludes a week-long battle between Treasury officials, fearing widespread sales and economic collapse, against State and Pentagon officials seeking a tougher route to Beijing. Until Wednesday morning, many of the State Department and Pentagon believed that they had filed a convincing proceeding to include the company once the administrative twist was resolved, people familiar with the matter said.
In the end, Treasury Secretary Steven Mnuchin won.
Americans are not banned from investing in Alibaba, Tencent and Baidu
Source link Americans are not banned from investing in Alibaba, Tencent and Baidu