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BEIJING, March 2, 2021 /PRNewswire/ Luokung Technology Corp. (NASDAQ: LKCO) ( Luokung or the Company ), a leading interactive location-based services and big data processing technology company in China, today announced that the Company has sought clarification of the deadline for U.S. persons to refrain from trading Luokung securities and derivatives. The deadline could be March 15, 2021 or May 27, 2021, depending on whether General License 1A (defined below) applies to the Company. This update relates to Luokung s previously issued statement: Luokung Announces Statement on Being Included in the Relevant List by the U.S Department of Defense.
On January 14, 2021, the U.S. Department of Defense ( DoD ) placed the Company on a list of entities operating directly or indirectly in the United States and deemed to be Communist Chinese Military Companies ( CCMCs ) under Executive Order 13959, issued by former President Trump on November 12, 20
[co-authors: Nick Russell, and Alasdair Kan]
Key Points
The U.S. government has recently imposed controls pertaining to “Communist Chinese Military Companies” (CCMCs or “1237 entities”); Chinese “Military End Users” (MEUs); and Chinese “Military-Intelligence End Users” (MIEUs). The U.S. government has also been adding Chinese companies to the Entity List based on concerns regarding the companies’ relationships to the Chinese military industrial complex.
Although the names and underlying policy concerns are similar, the scope and source of the prohibitions regarding each set of Chinese entities are quite different. Companies on one of the lists are not automatically on others, but overlap is possible as the lists evolve. These lists are in addition to the Chinese entities that are on the Unverified List (UVLs), the Denied Persons List (DPLs), and the Specially Designated Nationals and Blocked Persons List (SDNs).
The US Department of Defense (DOD) on Thursday released a list of nine Chinese companies with alleged links to the Chinese military to be blacklisted under section 1237 of the National Defense Authori.
US blacklists 9 companies with ties to China military shanghaisun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from shanghaisun.com Daily Mail and Mail on Sunday newspapers.
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.