Eight More Chinese Companies Blacklisted by the US

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The Biden administration has increased by eight the number of Chinese companies placed on its investment blacklist for alleged involvement in the surveillance of the Uyghur Muslim minority, enlisting among them the largest Chinese commercial drone manufacturer, DJI.

The US Treasury will update its “Chinese military-industrial complex companies” blacklist, which already contains 60 Chinese groups, on Thursday, after which the US investors will be barred from taking financial stakes in those companies.

Also on Thursday, Washington will also consider tightening rules on US companies selling technology to the largest Chinese chip manufacturer, Semiconductor Manufacturing International Corp.

According to the Financial Times, this is President Biden’s latest effort by President Biden to punish China for its repression of Muslim ethnic minorities in the northwestern Xinjiang region.

One of the companies that have found itself blacklisted in the new wave, the facial recognition software company SenseTime, has postponed its planned initial public offering in Hong Kong after learning the news.

It’ll be joined on the list by its main rival Megvii, the supercomputer manufacturer Dawning Information Industry, Leon Technology, NetPosa Technologies, CloudWalk Technology, Yitu Technology, and Xiamen Meiya Pico.

They were all already on the Department of Commerce’s “entity list”, which restricts American companies from exporting technology or products to the Chinese groups without obtaining a government license.

The Commerce Department has also announced to update its entity list with more than two dozen Chinese companies on Thursday.

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