U.S. gives investors more time to buy, sell securities in Chinese-military linked companies

FILE PHOTO: U.S. President Joe Biden delivers remarks on the April jobs report from the East Room of the White House in Washington, U.S., May 7, 2021. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) -The Biden administration gave investors two more weeks to buy or sell securities in certain companies tied to the Chinese military, the U.S. Treasury Department said in a notice posted on its website on Tuesday.

Investors now have until 9:30 a.m. (1330 GMT) on June 11 to compete their transactions, the department said. The previous deadline was May 27.

President Joe Biden’s administration has been reviewing a number of aspects of U.S.-China policy, including a ban imposed under his predecessor Donald Trump on investments in certain Chinese companies linked to Beijing’s military.

Bloomberg News reported the delay earlier on Tuesday.

At least eight Chinese companies have been placed under such restrictions. One, Xiaomi, filed a lawsuit in response, and the U.S. Defense Department has agreed to remove it from the banned list.

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