The US government has blacklisted Chinese smartphone maker Xiaomi and China's third-largest national oil company for alleged military links, heaping pressure on Beijing in President Donald Trump's last week in office.
The Department of Defense added nine companies to its list of Chinese companies with military links, including You do not have permission to view the full content of this post. Log in or register now. and state-owned plane manufacturer Commercial Aircraft of China (Comac).
US investors will have to divest their stakes in Chinese companies on the military list by November this year, according to an executive order signed by You do not have permission to view the full content of this post. Log in or register now. in November.
Xiaomi overtook You do not have permission to view the full content of this post. Log in or register now. as the world's No. 3 smartphone maker by sales in the third quarter of 2020, according to data by Gartner. Xiaomi's market share has grown as You do not have permission to view the full content of this post. Log in or register now. sales have suffered after it was blacklisted by the US and its smartphones were cut off from essential services from You do not have permission to view the full content of this post. Log in or register now..
Separately, the Commerce Department put China National Offshore Oil Corp. (You do not have permission to view the full content of this post. Log in or register now.) on the entity list, an economic blacklist that forbids US firms from exporting or transferring technology with the companies named unless permission has been obtained from the US government. The move comes after about 60 Chinese companies were added to the list in December, including drone maker DJI and semiconductor firm You do not have permission to view the full content of this post. Log in or register now..
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The Department of Defense added nine companies to its list of Chinese companies with military links, including You do not have permission to view the full content of this post. Log in or register now. and state-owned plane manufacturer Commercial Aircraft of China (Comac).
US investors will have to divest their stakes in Chinese companies on the military list by November this year, according to an executive order signed by You do not have permission to view the full content of this post. Log in or register now. in November.
Xiaomi overtook You do not have permission to view the full content of this post. Log in or register now. as the world's No. 3 smartphone maker by sales in the third quarter of 2020, according to data by Gartner. Xiaomi's market share has grown as You do not have permission to view the full content of this post. Log in or register now. sales have suffered after it was blacklisted by the US and its smartphones were cut off from essential services from You do not have permission to view the full content of this post. Log in or register now..
Separately, the Commerce Department put China National Offshore Oil Corp. (You do not have permission to view the full content of this post. Log in or register now.) on the entity list, an economic blacklist that forbids US firms from exporting or transferring technology with the companies named unless permission has been obtained from the US government. The move comes after about 60 Chinese companies were added to the list in December, including drone maker DJI and semiconductor firm You do not have permission to view the full content of this post. Log in or register now..
Source: You do not have permission to view the full content of this post. Log in or register now.