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28 Chinese companies are blacklisted by the US

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28 Chinese companies are blacklisted by the US
October 08
13:00 2019

Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is not going to discuss topics such as government subsidies and changes in the industrial policy. Even though the representatives of the US President’s administration insisted on the discussion of these questions, they were forced to accept the firm position of the Chinese side.

Analysts suggested that the States would take some actions and those expectations had been met.

The US Department of Commerce has included 28 organizations from China in the sanctions list. The repeated violation of the rights of the Chinese who profess the Muslim faith became the official reason for this step.

In practice, this means that if the company gets in the sanction list, any cooperation with the US companies without a special license will be prohibited. Previously, due to such sanctions, the activities of the high-tech company Huawei Technologies were significantly limited. Now, for example, Hangzhou Hikvision Digital Technology Co., Megvii Technology Inc. and SenseTime Group Ltd have come under siege. These corporations are primarily engaged in the development of video surveillance systems and face recognition.

Official Washington denies the connection of the future meeting with another quip to China. Many experts agree that such measures will only increase tension and complicate the course of negotiations, which already promise to be extremely difficult.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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