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U.S. to add 8 Chinese companies to investment blacklist


© Reuters. FILE PHOTO: People carrying face masks following the coronavirus illness (COVID-19) outbreak stroll previous DJI’s flagship retailer in Shenzhen, (*8*) province, China August 8, 2020. Picture taken August 8, 2020. REUTERS/David Kirton

(Reuters) – The United States will add eight Chinese companies, together with the world’s largest industrial drone producer DJI Technology Co Ltd, to an investment blacklist this week, the Financial Times reported on Wednesday.

The U.S. Treasury will put the companies on its “Chinese military-industrial complex companies” blacklist on Thursday due to their alleged involvement in surveillance of the Uyghur Muslim minority, the FT report stated, citing two folks briefed on the transfer.

U.S. traders are barred from taking stakes in companies on the record, which at the moment cites round 60 companies.

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A DJI spokesperson declined to touch upon the FT report, however directed Reuters to the corporate’s assertion when it was added to the U.S. Commerce Department’s “Entity List” a yr in the past for a similar causes. That itemizing prohibited the corporate from shopping for or utilizing U.S. expertise or elements.

At the time, DJI stated it had finished nothing to justify the transfer and it will proceed to promote its merchandise within the United States, the place it has constructed up a big market.

The U.S. Treasury didn’t instantly reply to a Reuters request for remark.

The new additions would come simply days after synthetic intelligence start-up SenseTime Group was positioned on the identical Treasury record, main the corporate to postpone its $767 million Hong Kong preliminary public providing (IPO). SenseTime stated the accusations in opposition to it had been unfounded.

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U.N. specialists and rights teams estimate greater than one million folks, primarily Uyghurs and members of different Muslim minorities, have been detained in recent times in an enormous system of camps in China’s far-west area of Xinjiang.

Some overseas lawmakers and parliaments have labelled the remedy of Uyghurs as genocide, citing proof of compelled sterilisations and deaths contained in the camps. China denies these claims and says Uyghur inhabitants progress charges are above the nationwide common.

The FT named the opposite companies being added to the record as image-recognition software program agency Megvii, supercomputer producer Dawning Information Industry, facial recognition specialist CloudWalk Technology, cyber safety group Xiamen Meiya Pico, synthetic intelligence firm Yitu Technology and cloud computing companies Leon Technology and NetPosa Technologies.

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