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On November 21, according to sources cited by Reuters, Washington was preparing to add four more Chinese companies to the Pentagon’s blacklist, restricting their access to US investors due to the so-called “These companies have the support of the Chinese military.”
Reuters also said the Trump administration is likely to seek to consolidate its decaying Chinese heritage in the days leading up to the end of the term.
An anonymous US official and a person familiar with the matter said that the US Department of Defense may announce these previously unreported designations on Friday, but it may be announced this week.
If the decision is officially announced, the number of affected Chinese companies will rise to 35, including industry giants such as Hikvision, China Telecom and China Mobile.
At present, the White House and the Chinese Embassy in Washington did not immediately respond to this.
Before leaving office, Trump still did not want to part with Chinese companies
Since the beginning of this year, Trump has never stopped cracking down on Chinese companies. On May 23 this year, the US Department of Commerce also announced that a total of 33 Chinese companies and institutions will be included in the “Entity List”.
As early as June 25 this year, the Trump administration decided to list 20 Chinese high-tech companies, including Huawei and Hikvision, as companies “owned, controlled or connected to the Chinese military.”
This list was mentioned by the US Department of Defense in a letter to members of Congress on the 24th. Pentagon spokesman Jonathan Hoffman said: “The list includes those who belong to the Chinese government, industry military or defense, controlling or related entities “. He stated that as China tries to blur the line between the civilian and military sectors, it is important to understand the suppliers.
This list is reportedly first drawn up by the US Department of Defense. A 1999 law authorized the Department of Defense to compile a list of companies “owned or controlled” by the Chinese military, but previous governments of The US has never issued such a list.
In August of this year, the U.S. Securities and Exchange Commission (SEC) and Treasury Department officials urged Trump to delist Chinese companies listed on U.S. exchanges. They did not meet their audit requirements for January 2022.
In September this year, the US Department of Commerce imposed restrictions on the export of China’s largest chipmaker, SMIC. Previously, the department determined that the equipment supplied to it could be used for military purposes, constituting an “unacceptable risk.”
On November 12, Trump signed another executive order: banning Americans from investing in related Chinese companies, which the White House believes support the Chinese military. The order prohibits US companies and individuals from owning, directly or through investment funds, holding shares that the US government believes will help the People’s Liberation Army develop businesses.
Trump noted in order that “China is using US capital resources to make it possible to develop and modernize its military, intelligence and security equipment.” These investments “make China a direct threat to the continental United States and the US military abroad, including the development and deployment of weapons of mass destruction, advanced conventional weapons, and malicious cyber operations against the United States and its people.”
This ban will go into effect at 9:30 a.m. M. From January 11, 2021 and will be directed at 31 companies that have been designated by the United States Department of Defense as “Chinese Military Companies”. These companies include large state-owned aviation and construction companies, as well as technology and communications companies such as Inspur Group, Huawei, and China Telecom. According to a report by Global Network, the regulation may affect 31 Chinese companies, including China Telecom, China Mobile and Hikvision.
The United States believes that these companies promote the development of China’s armed forces through the acquisition of advanced technology and knowledge and, to some extent, promote China’s active global expansion.
In response, Hikvision once replied:
“We have paid attention to the executive order just issued by the President of the United States.
Hikvision already protested when the US Department of Defense first announced the list of Chinese military-related companies on June 24, 2020. Hikvision is not a military industrial company and there is no basis for including us on this list.
Hikvision is an independently operated and publicly traded trading company. The shareholding structure of the company is open and transparent. Information on all aspects of the company’s business is also publicly available. We have always maintained complete and transparent information with all interested parties in the past. Please reach out to clear up any potential misunderstandings and we will continue to work hard to resolve these issues in the future. “
(This article was reprinted with permission from Leifeng.com; the source of the first image: Flickr / The White House CC BY 2.0)
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