Updated Jan 15, 2021 | 07:46 IST
In November last year Trump had signed an executive order that prohibited Americans from investing in the blacklisted firms. US bans nine Chinese companies | Photo Credit: ANI
Washington DC: The US Department of Defence on Thursday blacklisted nine more Chinese corporations, including phone maker Xiaomi for allegedly being owned or controlled by China s military.
The Department had in June 2020 released to Congress, its initial list of companies that are deemed to have military ties while operating as civilian firms. It added to the list more companies in December 2020. With Thursday s updated list there are now over 40 companies that have been blacklisted.
US blacklists 9 more corporations with ties to Chinese military ANI | Updated: Jan 15, 2021 04:56 IST
Washington [US], January 15 (ANI): The US Department of Defence on Thursday blacklisted nine more Chinese corporations, including phone maker Xiaomi for allegedly being owned or controlled by China s military.
The Department had in June 2020 released to Congress, its initial list of companies that are deemed to have military ties while operating as civilian firms. It added to the list more companies in December 2020. With Thursday s updated list there are now over 40 companies that have been blacklisted.
The Defence Department released names of additional Communist Chinese military companies operating directly or indirectly in the United States in accordance with the statutory requirement of Section 1237 of the National Defense Authorization Act for Fiscal Year 1999, as amended.
Pentagon Names 9 New Chinese Companies With Ties to Chinese Military
The U.S. Department of Defense on Jan. 14 added nine Chinese companies to a growing list of companies with ties to the Chinese military.
Among the nine companies were cellphone maker Xiaomi, semiconductor equipment maker Advanced Micro-Fabrication Equipment (AMEC), chip designer GOWIN Semiconductor, state-owned China National Aviation Holding, and aircraft manufacturer Commercial Aircraft Corporation of China (Comac), according to a press release from the Pentagon.
The latest additions mean the United States has designated a total of 44 Chinese companies as those with links to the Chinese military, formally known as the People’s Liberation Army.
Xiaomi Plummeted By 11% After US Backlash
Xiaomi, one of the biggest smartphone manufacturers in China, has seen an 11% dive in stock price after being blacklisted by the US. The tech giant joined 11 firms targeted by Washington, claiming that they posed a threat to national security.
According to the International Data Corporation, Xiaomi Corporation overtook Apple in smartphone sales in the third quarter of 2020 for the very first time in history, thanks to its wide variety of budget and high-end Android smartphones. Last year, Apple launched the iPhone 12, while Xiaomi launched its Mi 9, Mi 11, and Mi Note 10 Pro lineups.
In a statement, the US Department of Defense says that it is determined to highlight and counter the People s Republic of China s (PRC) Military-Civil Fusion development strategy, which supports the modernization goals of the People s Liberation Army (PLA) by ensuring its access to advanced technologies and expertise acquired and developed by even those P