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Executive Order Against Investment in CCP Military Companies Starts Jan. 11, 2021

by Kari Donovan
December 28, 2020
in Business, Communist Chinese Party
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Executive Order Against Investment in CCP Military Companies Starts Jan. 11, 2021
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The Trump Administration continues to impose further economic sanctions aimed at China with the US Treasury Department updating their Frequently Asked Questions (FAQ) section.

On November 12, 2020, President Trump signed Executive Order 13959, targeting transactions by U.S. persons in certain securities of designated “Communist Chinese military companies” (“CCMC”). This was preceded earlier in the week with the sanctioning of four more Chinese officials for their role in implementing the new National Security Law for Hong Kong.

Citing a threat to U.S. national security posed by China’s military-industrial complex, President Trump issued Executive Order 13959 to prevent U.S. investors from financing the development and modernization of China’s military. The restrictions in the Executive Order do not take effect until January 11, 2021, as discussed below.

President @realDonaldTrump is protecting U.S. investors and pension funds. His Executive Order prohibits ETF and index fund investments in Communist Chinese military companies and subsidiaries. Great teamwork on today’s announcement. https://t.co/k6IgaE2g3H

— Secretary Pompeo (@SecPompeo) December 29, 2020

Protecting U.S. Investors from Financing Communist Chinese Military Companies

PRESS STATEMENT

MICHAEL R. POMPEO, SECRETARY OF STATE

DECEMBER 28, 2020

President Trump took decisive action last month to protect American investors and pension holders from funding Communist Chinese military companies (CCMCs) through Executive Order (13959) Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies.  The Trump administration is coordinating closely to counter the threat these companies present to the economy and national security of the United States.

Today, the Treasury Department noted that Executive Order 13959 prohibits the ownership of any CCMC shares by exchange-traded funds (ETFs) and index funds, as well as any of their 50 percent or greater majority-owned subsidiaries that have been publicly listed by the Treasury or Defense Departments.  This ensures U.S. capital does not contribute to the development and modernization of the People’s Republic of China’s (PRC) military, intelligence, and security services.

The Executive Order applies to all transactions by U.S. persons, including individuals, institutional investors, pension funds, university endowments, banks, bond issuers, venture capital firms, private equity firms, index firms, and other U.S. entities, including those operating overseas.  This should allay concerns that U.S. investors might unknowingly support CCMCs via direct, indirect, or other passive investments including those linked to educational, ETFs, venture funds, private equity, Real Estate Investment Trusts, commodities, endowments, pensions, or any other investment funds tracking bonds, loans, lease lines, debt or equity indices that include securities of CCMCs or subsidiaries publicly listed by the U.S. government.

Beginning on January 11, 2021, U.S. investors will no longer be able to transact in publicly traded or private market debt or equity securities, or any securities that are derivative thereof, regardless of the percentage ownership of CCMCs, with full divestment required by November 11, 2021.

….as well as any of their 50 percent or greater majority-owned subsidiaries that have been publicly listed.
The EO applies to all transactions by U.S. persons, including individuals, institutional investors, pension funds, university endowments, banks,…

— Emel Akan (@mlakan) December 29, 2020

… private market debt or equity securities, or any securities that are derivative thereof, regardless of the percentage ownership of Communist Chinese military companies, with full divestment required by November 11, 2021.

— Emel Akan (@mlakan) December 29, 2020

Treasury Department

2/28/2020 Body

VIDEO OF THE DAY


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OFAC has published the following Frequently Asked Questions related to Executive Order (E.O.) 13959, “Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies”:  857, 858, 859, 860, 861.  OFAC has also published a list (PDF; CSV) containing the names of entities identified in or pursuant to E.O. 13959 as Communist Chinese military companies, along with additional identifying information.SEARCH RECENT ACTIONSStart DateEnd date SUBSCRIBE TO THE OFAC RSS FEED

SIGN UP FOR OFAC RECENT ACTIONS E-MAIL UPDATES

Kari Donovan
Kari Donovan

Kari is an ex-Community Organizer who writes about Voter Engagement, Cultural Marxism and Campaigns. She has been a grassroots volunteer with the GOP, on and off for 18 years. She is a Homeschool Mom in North Carolina and loves Photojournalism and Citizen Journalism. @Saorsa1776

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  1. John H.Montgomery says:
    1 year ago

    Should cut them off at the knees.

    Reply

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