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Trump takes aim at China’s largest shipbuilder

Outgoing president Donald Trump took another swipe at China’s fast growing military industrial complex yesterday, issuing an executive order banning Americans from buying or holding stock in 31 Chinese companies that have ties with the military. Featured on the banned list are China’s largest shipbuilding group and the world’s number one port construction firm.

Investors have until November next year to get rid of their holdings in these 31 companies including China State Shipbuilding Corporation (CSSC) and China Communications Construction Corporation (CCCC).

The executive order described China’s military-industrial complex as an “unusual and extraordinary threat” to the US.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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