US to increase China blacklist by 8 extra firms

The variety of Chinese language firms positioned on a blacklist by the U.S. authorities is rising.

The Biden administration is inserting eight Chinese language firms 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 firms is DJI, the most important business drone producer.

The US Treasury will put DJI and the opposite corporations on its “Chinese language military-industrial complicated firms” blacklist on Thursday, in response to the Monetary Instances.

There are already 60 Chinese language teams already on the blacklist.

US buyers are barred from taking monetary stakes in these firms.

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The measure marks the most recent 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 Instances.

Final week, SenseTime, a facial recognition software program firm, postponed its deliberate preliminary public providing in Hong Kong after the Monetary Instances reported that the US was set to position the corporate on the blacklist. 

The opposite Chinese language firms that will probably be sanctioned on Thursday embody Megvii, SenseTime’s major rival and Dawning Info Trade, a supercomputer producer. Others are CloudWalk Expertise, Xiamen Meiya Pico, Yitu Expertise, Leon Expertise and NetPosa Applied sciences.

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DJI and Megvii should not publicly traded.

All eight firms are already on the commerce division’s “entity record”, which restricts US firms from exporting know-how 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 also be anticipated to position greater than two dozen Chinese language firms on the entity record on Thursday.

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The Biden administration on Thursday may even contemplate tightening guidelines on US firms promoting know-how to Semiconductor Manufacturing Worldwide Corp, the most important Chinese language chip producer. 

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