US decides to isolate Chinese companies linked with military
The United States Department of Defense (DoD) has added more than a dozen Chinese companies, including the world’s largest drone manufacturer, to a blacklist of companies with alleged ties to the Chinese military, paving the way for restrictions. about their activities.
Shenzhen-based DJI Technology, which is estimated to control more than half of the global commercial drone market, is among 13 companies added to the Pentagon’s blacklist.
The blacklist gives the president of the United States the power to impose sanctions on companies associated with the Chinese military.
The announcement comes after the U.S. Treasury Department last year banned U.S.-based individuals from trading shares of DJI and seven other Chinese companies for their alleged involvement in monitoring Uighur ethnic minorities in the region. of western Xinjiang of China.
More than 60 Chinese companies are blacklisted, including tech giant Huawei Technology and semiconductor maker SMIC.
“The ministry is committed to highlighting and countering the military-civilian merger strategy of the People’s Republic of China, which supports the People’s Liberation Army’s modernization goals by ensuring that access to advanced technologies and skills is acquired and developed by society, PRC universities and research programs that resemble civilian entities, “the Pentagon said in a statement.
US decides to isolate Chinese companies linked with military
Charles Rollet, an analyst with Pennsylvania-based research group IPVM, said the moves against DJI, which is estimated to control more than half of the global commercial drone market, were a warning to investors to stay away from the company.
US President Joe Biden has called for the isolation of Chinese companies with alleged military ties as part of a vast effort to counter Beijing in areas ranging from defense to technology and trade.
