Instant International
Author: Sun Suqing
2021-01-15 02:47
Last update date: 2021-01-15 04:04
The administration of US President Donald Trump took repeated actions against China on January 14. The Ministry of National Defense included nine Chinese companies on the PLA-related sanctions list of Chinese companies, including aircraft manufacturer Comac and Comac. Mobile phone manufacturer Xiaomi (Xiaomi).
The US Department of Defense announced a new batch of lists, including Xiaomi, COMAC, China Micro Semiconductor Equipment, Luokung Technology, Beijing Zhongguancun Development and Investment Center, Gowin Semiconductor, Grand China Airlines, GTCOM, and China Aviation Group.
Washington refers to the company involved as a "Chinese military enterprise" that operates directly or indirectly in the United States.
Companies on the list will be subject to a new US investment ban, forcing US investors to sell their shares in blacklisted companies before November 11, 2021.
According to the Ministry of National Defense, China uses its military-civilian integration policy, under the cover of enterprises, universities, and research projects that are suspected of being civilian, to obtain advanced technology and professional talents for the PLA, thereby realizing the goal of modernizing the PLA.
Trump signed an executive order on November 12 last year that prohibits US investors from investing in securities in Chinese companies that are allegedly owned or controlled by the Chinese military.
At present, 35 companies have been blacklisted, including SMIC and China National Offshore Oil Corporation.
At present, the Chinese Embassy in Washington and Xiaomi have not responded to the report.
However, as soon as the news came out, the US-listed Xiaomi ADR share price plunged into the water. It was as low as $18.32 before 3 a.m., down 14.23% from the closing price of the previous day, and down about 9% from the closing price in Hong Kong.
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