Sunday, December 5, 2021
Home Business U.S. puts Chinese firms helping military on trade blacklist By Reuters

U.S. puts Chinese firms helping military on trade blacklist By Reuters

© Reuters. FILE PHOTO: Chinese and U.S. flags flutter exterior an organization constructing in Shanghai, China November 16, 2021. REUTERS/Aly Song

By Chris Sanders

WASHINGTON (Reuters) -The U.S. authorities put a dozen Chinese firms on its trade blacklist on Wednesday for nationwide safety and overseas coverage issues, citing in some circumstances their assist creating the Chinese military’s quantum computing efforts.

The division additionally stated a number of entities and people from China and Pakistan have been added to the Commerce Department’s Entity List for contributing to Pakistan’s nuclear actions or ballistic missile program.

The newest U.S. motion on Chinese firms comes amid rising tensions https://www.reuters.com/world/asia-pacific/biden-administration-invites-taiwan-its-summit-democracy-2021-11-24 between Beijing and Washington over the standing of Taiwan and trade points.

In complete, 27 new entities have been added to the listing from China, Japan, Pakistan, and Singapore.

Commerce Secretary Gina Raimondo stated in a press release that the brand new listings will assist stop U.S. know-how from supporting the event of Chinese and Russian “military advancement and activities of non-proliferation concern like Pakistan’s unsafeguarded nuclear activities or ballistic missile program.”

China’s embassy in Washington charged that the United States “uses the catch-all concept of national security and abuses state power to suppress and restrict Chinese enterprises in all possible means.

“China is firmly against that,” embassy spokesperson Liu Pengyu said.

He said the United States should “comply with the spirit” of a virtual meeting between U.S. President Joe Biden and Chinese leader Xi Jinping https://www.reuters.com/world/biden-raised-concerns-over-xinjiang-tibet-hong-kong-xi-warns-taiwan-red-line-2021-11-16 last week and “meet China midway as an alternative of going additional down the unsuitable path.”

The Commerce Department said Hangzhou Zhongke Microelectronics Co Ltd, Hunan Goke Microelectronics, New H3C Semiconductor Technologies Co Ltd, Xi’an Aerospace Huaxun Technology and Yunchip Microelectronics were placed on the Commerce Department’s entity list for their “help of the military modernization of the People’s Liberation Army.”

It also added Hefei National Laboratory (NYSE:) for Physical Sciences at Microscale, QuantumCTek and Shanghai QuantumCTeck Co Ltd to the list for “buying and trying to amass U.S.-origin objects in help of military functions”.

The eight Chinese firms have been listed to stop U.S. know-how getting used to assist China develop quantum computing functions for its military.

The Commerce Department needs to cease the Chinese military from creating its counter-stealth know-how, which might embrace tools like superior radars, and counter-submarine functions corresponding to undersea sensors. The motion additionally blocks U.S. materials from getting used to assist China break encryption or develop unbreakable encryption, the Commerce Department stated.

Suppliers to firms on the entity listing might want to apply for a license earlier than they’ll promote to them, which is prone to be denied.

Separately, the Moscow Institute of Physics and Technology was added to the Commerce Department’s military finish person listing, however the itemizing didn’t present extra data aside from it had produced military merchandise.

The entity listing has more and more been used for nationwide safety and overseas coverage goals for the reason that Trump administration. Chinese telecom firm Huawei was added in 2019, chopping it off from some key suppliers and making it tough for them to provide cell handsets.

Disclaimer: Fusion Media want to remind you that the information contained on this website shouldn’t be essentially real-time nor correct. All CFDs (shares, indexes, futures) and Forex costs should not offered by exchanges however fairly by market makers, and so costs is probably not correct and will differ from the precise market value, that means costs are indicative and never applicable for buying and selling functions. Therefore Fusion Media doesn`t bear any accountability for any buying and selling losses you would possibly incur because of utilizing this knowledge.

Fusion Media or anybody concerned with Fusion Media is not going to settle for any legal responsibility for loss or harm because of reliance on the data together with knowledge, quotes, charts and purchase/promote alerts contained inside this website. Please be totally knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is likely one of the riskiest funding types doable.

Leave a Reply

India's best Website Development & Digital Marketing Company that works across the world. Feel free to inquiry for any Service or connect with our Official site.

Sunday, December 5, 2021

Most Popular

Most Trending

Recent Comments