Financial Times: U.S. Treasury Puts Eight Chinese Companies, Including DJI on a "Blacklist"

According to the Financial Times, the Biden administration has blacklisted eight Chinese companies, including DJI, the world's largest commercial drone manufacturer.

Washington blacklisted DJI, the world's largest manufacturer of commercial drones, after the United States has taken similar steps against dozens of other leading Chinese technology companies

Image source: Financial Times

According to two people familiar with the matter, the U.S. Treasury Department will add DJI and other companies to its blacklist of so-called "Chinese military-industrial complex enterprises" on Thursday. U.S. investors are barred from holding shares in 60 Chinese companies that have been blacklisted.

Other Chinese companies that will be sanctioned on Thursday include SenseTime's main rival, Megvii Technology, which suspended plans to list in Hong Kong last year after being placed on a separate U.S. blacklist, and Sugon.

In addition, Yuncong Technology, Xiamen Meiya Bakke, Yitu Technology, Leon Technology and Beijing Oriental Net Power Technology Co., Ltd. will also be added to this blacklist.

All eight companies are already on the Commerce Department's Entity List, which restricts U.S. companies from exporting U.S. technology or products to Chinese companies without government permission. The Commerce Department is also expected to add more than two dozen Chinese companies to its Entity List on Thursday.

The spokesman of our Ministry of Foreign Affairs has stated on many occasions that the Chinese side resolutely opposes the US side's groundless suppression of Chinese enterprises, and what the US side has done seriously violates the principle of market competition and international economic and trade rules that the US side has always flaunted, and will certainly seriously damage the national interests and its own image.

(Proofreading/Hidden Drei)