The variety of Chinese language corporations positioned on a blacklist by the U.S. authorities is rising.
The Biden administration is putting eight Chinese language corporations on an funding blacklist for his or her alleged involvement within the surveillance of the Uyghur Muslim minority.
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Among the many corporations is DJI, the biggest business drone producer.
The US Treasury will put DJI and the opposite corporations on its “Chinese language military-industrial advanced corporations” blacklist on Thursday, in response to the Monetary Occasions.
There are already 60 Chinese language teams already on the blacklist.
US traders are barred from taking monetary stakes in these corporations.
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The measure marks the newest effort by President Biden to punish China for its repression of Uyghurs and different Muslim ethnic minorities within the northwestern Xinjiang area, in response to the Monetary Occasions.
Final week, SenseTime, a facial recognition software program firm, postponed its deliberate preliminary public providing in Hong Kong after the Monetary Occasions reported that the US was set to position the corporate on the blacklist.
The opposite Chinese language corporations that will likely be sanctioned on Thursday embody Megvii, SenseTime’s primary rival and Dawning Info Business, a supercomputer producer. Others are CloudWalk Know-how, Xiamen Meiya Pico, Yitu Know-how, Leon Know-how and NetPosa Applied sciences.
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DJI and Megvii aren’t publicly traded.
All eight corporations are already on the commerce division’s “entity checklist”, which restricts US corporations from exporting expertise or merchandise from America to the Chinese language teams with out acquiring a authorities license.
The White Home didn’t remark to the FT and Treasury didn’t reply to a request for remark.
The Commerce Division can be anticipated to position greater than two dozen Chinese language corporations on the entity checklist on Thursday.
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The Biden administration on Thursday may also take into account tightening guidelines on US corporations promoting expertise to Semiconductor Manufacturing Worldwide Corp, the biggest Chinese language chip producer.