share this article!

Staff of Reuters 2 minutes At a brokerage firm in Taiyuan, Shanxi Province, China, on May 27, 2015, an investor is reflected on the surface of a wall as he passes by an electronic board showing stock information, packed with red digits indicating rising prices. Jon Woo/Reuters (Reuters) – SHANGHAI (Reuters) – Following user comment on an updated US executive order barring US investment in companies with claimed ties to China’s military, global index publisher FTSE Russell said it will exclude another 20 Chinese companies from its indexes. On June 3, US President Joe Biden signed an executive order prohibiting US corporations from investing in hundreds of Chinese enterprises with alleged ties to the defense or surveillance technology industries, replacing a previous order signed by Donald Trump. The new Chinese businesses will be removed from FTSE Russell’s indexes on July 28, according to a statement on the company’s website. The decision was made based on input from index users and stakeholders, according to the statement. Aerospace-related companies such as Aerospace CH UAV, Avic Aircraft, Avic Aviation High-Technology, and Avic Heavy Machinery will be delisted. China Shipbuilding Industry, CSSC Offshore & Marine Engineering (Group), and Inner Mongolia First Machinery Group were also on the list. The equities will be delisted from the FTSE GEIS, FTSE Global China A Inclusion, and other related indices. Due to US sanctions, FTSE Russell has already removed Chinese firms from its indices, including Semiconductor Manufacturing International Corp and Hangzhou Hikvision Digital Technology Co. Samuel Shen in Shanghai and Tom Westbrook in Singapore contributed reporting, and Richard Pullin edited the piece./nRead More

share this article!