On Thursday, The Trump administration added China’s top chipmaker, SMIC, and oil giant CNOOC to a blacklist of alleged Chinese military companies.
The Department of Defense designated a total of four additional companies as owned or controlled by the Chinese military, also including China Construction Technology Co Ltd and China International Engineering Consulting Corp.
According to the report by Reuters, The move brings the total number of companies blacklisted to 35. While the list did not initially trigger any penalties, a recent executive order issued by Republican President Donald Trump will prevent U.S. investors from buying securities of the blacklisted firms starting late next year.
SMIC said in a stock market statement that it strongly opposes the decision of United States Department of Defense, which reflects a fundamental misunderstanding by the U.S. administration regarding the end-uses of its business and technology.
SMIC said in a stock market statement that it strongly opposes the decision of United States Department of Defense, which reflects a fundamental misunderstanding by the U.S. administration regarding the end-uses of its business and technology.
However, China National Offshore Oil Corp (CNOOC) did not respond immediately to a request for comment.
