White House Extends China Securities Investment Emergency for One More Year

The White House has extended for one year the national emergency declared against securities investments that finance certain companies of the People’s Republic of China, keeping in force beyond 12 November 2026 the legal basis for restrictions on U.S. investors in those securities. The continuation appears in a presidential notice dated 3 November 2026 and published in the Federal Register of Thursday, 5 November 2026, volume 91, number 213, as document FR Doc. 2026–22688.

The emergency was first declared on 12 November 2020 by Executive Order 13959, acting under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.). In that order the President found that the PRC “is increasingly exploiting United States capital to resource and enable the development and modernization of its military, intelligence, and other security apparatuses,” allowing it to threaten the U.S. homeland and U.S. forces overseas. The order described how, through the national strategy of Military-Civil Fusion, Beijing compels ostensibly private and civilian Chinese companies to support military and intelligence activities, while those same companies raise capital by selling securities to U.S. investors on public exchanges at home and abroad, lobbying U.S. index providers and funds to include the securities in market offerings, and engaging in other acts to secure access to U.S. capital.

A chain of three executive orders

The notice traces the legal architecture built on that initial finding, which has been amended twice in the six years since:

• Executive Order 13959 of 12 November 2020: declares the national emergency over securities investments financing certain PRC companies.
• Executive Order 13974 of 13 January 2021: amends Executive Order 13959.
• Executive Order 14032 of 3 June 2021: expands the scope of the emergency to cover the PRC military-industrial complex, its involvement in military, intelligence and security research and development, and weapons-related production under Military-Civil Fusion; it also revokes Executive Order 13974 in its entirety.

Executive Order 14032 additionally found that the use of Chinese surveillance technology outside the PRC, and the development or use of such technology to facilitate repression or serious human rights abuse, constituted separate unusual and extraordinary threats to U.S. national security, foreign policy and economy.

Two threats still judged to persist

The 3 November notice states that both strands of the emergency remain live. According to the document, “the threat from securities investments that finance certain companies of the PRC and certain uses and development of Chinese surveillance technology continue to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States.” On that basis, the President concluded that the emergency declared in Executive Order 13959 of 12 November 2020, and expanded in scope by Executive Order 14032 of 3 June 2021, “must continue in effect beyond November 12, 2026.”

Continuation under the National Emergencies Act

The extension is made under section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), the provision that requires an annual presidential determination for a declared emergency to survive past its anniversary. The notice states that the emergency is continued “for 1 year” and directs that it be published in the Federal Register and transmitted to Congress. It is signed at The White House on 3 November 2026 and was filed for public inspection on 4 November 2026 at 11:15 a.m., carrying billing code 3395–F4–P.

What it means for investors

The notice does not create new prohibitions; it preserves the state of emergency that underpins the investment restrictions adopted under Executive Order 13959 as amended, so U.S. investors face no change in the treatment of securities tied to the Chinese companies covered by those orders. It also keeps the emergency authority available to the executive branch for another year, extending to November 2027 a framework that now spans both portfolio investment in PRC military-linked companies and the use of Chinese surveillance technology. The document closes the loop required by law: without the annual continuation, the emergency would have lapsed on 12 November 2026.

Source: Federal Register, Vol. 91, No. 213, 5 November 2026, Presidential Documents, p. 69953 (official reference: FR Doc. 2026–22688).