[co-author: Stephanie Cheung]
INTRODUCTION
Following our recent Client Alert published in October 2020 on the release of the Section 5(a) Report under the Hong Kong Autonomy Act of 2020 (“
HKAA”), there have now been some further updates in relation to U.S. sanctions affecting parties in Hong Kong and China which we discuss below.
TRUMP ADMINISTRATION IDENTIFIES FOUR ADDITIONAL CHINESE ENTITIES AS MILITARY COMPANIES
CCMC”). This list is required to be compiled and reported to the U.S. Congress. In addition to the companies already on the list from designations in June and August of this year, the four companies added in December are (i) high-tech state-owned enterprise group, China Construction Technology Co. Ltd. (CCTC); (ii) an engineering consulting business, China International Engineering Consulting Corp. (CIECC); (iii) China’s top chipmaker, Semiconductor Manufacturing International Corp. (SMIC); and (iv) China’s largest offshore oil and gas producer, China Natio