Trump administration to add four more Chinese organizations to Pentagon blacklist: Sources
21 November, 2020
Washington is poised to designate four more Chinese businesses as backed by the Chinese military, sources said, curbing their usage of US investors as the Trump administration seeks to cement its hawkish China legacy found in its waning days.
The designations, that have not been previously reported, could be released by the Division of Defense when Friday (Nov 21) but may be unveiled next week, said one US official and one individual familiar with the problem who declined to be named.
The White House did not immediately react to a obtain comment.
The additions would bring the amount of Chinese companies afflicted to 35. They incorporate giants like Hikvision China Telecom Corp and China Cell, that have been added earlier this season.
The set of "Communist Chinese Army Companies" was mandated by a 1999 rules requiring the Pentagon to compile a catalogue of companies "owned or controlled" by the People's Liberation Army, but the defence department only complied this season.
The most recent move would come just days after the White Property published an executive order, first reported by Reuters, that sought to provide teeth to the list by prohibiting US investors from buying securities of the blacklisted companies from November 2021.
The directive is unlikely to deal the businesses a serious blow, experts said, due to its limited scope, uncertainty about the stance of the incoming Biden administration and already-scant holdings by US funds.
Source: www.channelnewsasia.com
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