• Latest
  • Trending
U.S. to add more Chinese firms to investment, export blacklists – FT

U.S. to add more Chinese firms to investment, export blacklists – FT

December 15, 2021
Inaugural AfCFTA Conference on Women and Youth in Trade

Inaugural AfCFTA Conference on Women and Youth in Trade

September 6, 2022
Instagram fined €405m over children’s data privacy

Instagram fined €405m over children’s data privacy

September 6, 2022
8 Most Common Causes of a Data Breach

5.7bn data entries found exposed on Chinese VPN

August 18, 2022
Fibre optic interconnection linking Cameroon and Congo now operational

Fibre optic interconnection linking Cameroon and Congo now operational

July 15, 2022
Ericsson and MTN Rwandacell Discuss their Long-Term Partnership

Ericsson and MTN Rwandacell Discuss their Long-Term Partnership

July 15, 2022
Airtel Africa Purchases $42M Worth of Additional Spectrum

Airtel Africa Purchases $42M Worth of Additional Spectrum

July 15, 2022
Huawei steps up drive for Kenyan talent

Huawei steps up drive for Kenyan talent

July 15, 2022
TSMC predicts Q3 revenue boost thanks to increased iPhone 13 demand

TSMC predicts Q3 revenue boost thanks to increased iPhone 13 demand

July 15, 2022
Facebook to allow up to five profiles tied to one account

Facebook to allow up to five profiles tied to one account

July 15, 2022
Top 10 apps built and managed in Ghana

Top 10 apps built and managed in Ghana

July 15, 2022
MTN Group to Host the 2nd Edition of the MoMo API Hackathon

MTN Group to Host the 2nd Edition of the MoMo API Hackathon

July 15, 2022
KIOXIA Introduce JEDEC XFM Removable Storage with PCIe/NVMe Spec

KIOXIA Introduce JEDEC XFM Removable Storage with PCIe/NVMe Spec

July 15, 2022
  • Consumer Watch
  • Kids Page
  • Directory
  • Events
  • Reviews
Sunday, 29 January, 2023
  • Login
itechnewsonline.com
  • Home
  • Tech
  • Africa Tech
  • InfoSEC
  • Data Science
  • Data Storage
  • Business
  • Opinion
Subscription
Advertise
No Result
View All Result
itechnewsonline.com
No Result
View All Result

U.S. to add more Chinese firms to investment, export blacklists – FT

by ITECHNEWS
December 15, 2021
in Business, Leading Stories
0 0
0
U.S. to add more Chinese firms to investment, export blacklists – FT

Shares in Chinese healthcare and technology firms tumbled on Wednesday after a report that the United States would add more Chinese firms, including the largest commercial drone maker and biotech firms, to investment and export blacklists this week.

Citing two sources briefed on the plans, the Financial Times said the United States would add eight Chinese firms, including the drone maker, DJI Technology Co Ltd, to an investment blacklist on Thursday.

YOU MAY ALSO LIKE

Inaugural AfCFTA Conference on Women and Youth in Trade

Instagram fined €405m over children’s data privacy

The U.S. commerce department is also set to place more than two dozen Chinese firms, some of them involved in biotechnology, on an “entity list” restricting exports to them by U.S. firms, the newspaper cited the sources as saying.

The report hastened a sell-off in Chinese healthcare shares in afternoon trade, knocking 3.2% off a mainland index tracking the sector (.CSI300HC) against a drop of 0.87% in the broader index.

The impact was sharper still in Hong Kong, where the Hang Seng Healthcare Index (.HSHCI) was down 7.6% in late afternoon trade.

Healthcare firms were already under pressure on Wednesday after Chinese biotech company BeiGene Ltd plunged on its Shanghai debut, amid worries that some Chinese firms could be ordered to delist from the U.S. stock market. 

The Financial Times said the U.S. treasury department would put eight companies including DJI on its “Chinese military-industrial complex companies” blacklist because of their alleged involvement in surveillance of the Uyghur Muslim minority.

U.S. investors are barred from taking stakes in companies on the list, which now comprises about 60 firms.

A DJI spokesperson declined to comment on the report, but directed Reuters to the company’s statement when U.S. commerce department put it it on the “Entity List” a year ago for the same reasons. That step barred it from buying or using U.S. technology or components.

At the time, DJI said it had done nothing to justify the move and would continue to sell products in the United States, where it has built up a large market.

The U.S. Treasury did not immediately respond to a Reuters request for comment.

In Beijing, responding to questions on the FT report, foreign ministry spokesman Zhao Lijian told a news briefing China was opposed to U.S. “suppression” of its companies and would pay close attention to how the situation developed.

The new additions come just days after artificial intelligence start-up SenseTime Group was added to the Treasury list, forcing it to postpone its $767-million Hong Kong initial public offering (IPO).

SenseTime said the accusations against it were unfounded.

U.N. experts and rights groups estimate more than a million people, mainly Uyghurs and members of other Muslim minorities, have been detained in recent years in a vast system of camps in China’s far western region of Xinjiang.

Some foreign lawmakers and parliaments have labelled the treatment of Uyghurs as genocide, citing evidence of forced sterilisations and deaths inside the camps. China denies this, saying Uyghur population growth exceeds the national average.

Other companies to be added to the list, the FT said, are image-recognition software firm Megvii, supercomputer maker Dawning Information Industry, facial recognition specialist CloudWalk Technology, cyber security group Xiamen Meiya Pico, artificial intelligence company Yitu Technology and cloud computing firms Leon Technology and NetPosa Technologies.

By Reuters

ShareTweetShare
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.

Search

No Result
View All Result

Recent News

Inaugural AfCFTA Conference on Women and Youth in Trade

Inaugural AfCFTA Conference on Women and Youth in Trade

September 6, 2022
Instagram fined €405m over children’s data privacy

Instagram fined €405m over children’s data privacy

September 6, 2022
8 Most Common Causes of a Data Breach

5.7bn data entries found exposed on Chinese VPN

August 18, 2022

About What We Do

itechnewsonline.com

We bring you the best Premium Tech News.

Recent News With Image

Inaugural AfCFTA Conference on Women and Youth in Trade

Inaugural AfCFTA Conference on Women and Youth in Trade

September 6, 2022
Instagram fined €405m over children’s data privacy

Instagram fined €405m over children’s data privacy

September 6, 2022

Recent News

  • Inaugural AfCFTA Conference on Women and Youth in Trade September 6, 2022
  • Instagram fined €405m over children’s data privacy September 6, 2022
  • 5.7bn data entries found exposed on Chinese VPN August 18, 2022
  • Fibre optic interconnection linking Cameroon and Congo now operational July 15, 2022
  • Home
  • InfoSec
  • Opinion
  • Africa Tech
  • Data Storage

© 2021-2022 iTechNewsOnline.Com - Powered by BackUPDataSystems

No Result
View All Result
  • Home
  • Tech
  • Africa Tech
  • InfoSEC
  • Data Science
  • Data Storage
  • Business
  • Opinion

© 2021-2022 iTechNewsOnline.Com - Powered by BackUPDataSystems

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version