US to Blacklist More Chinese Companies including SMIC, Beijing Vows to Respond

China vowed on Friday to respond to a US move to blacklist Chinese largest chipmaker SMIC, as well as dozens of various Chinese companies.

Reuters news agency quoted two US sources as saying that Washington considers the Chinese companies as entities linked to the Chinese military or are involved in alleged human rights violations.

Addressing the reports, Beijing said it will respond by taking any necessary measures to secure the legitimate interests of Chinese companies and urged Washington to stop an “unjustified crackdown” on them.

The US previously included around 275 China-based companies and their affiliates on the list, including Huawei, ZTE Corp, and surveillance camera maker Hikvision.

At the same time, SMIC was targeted by the Department of Defense, which mandated export licensing for the suppliers of the firm and effectively banned US investors from buying SMIC shares, accusing it of cooperating with the Chinese military, which SMIC has repeatedly denied.

Relations between Beijing and Washington have deteriorated over the last several years amid tariff wars and a crackdown on Chinese tech companies by the President Donald Trump administration.

The US accused many of the firms of bypassing sanctions and backing Chinese intel activities in the west, while China says that Washington is trying to suppress foreign businesses by force.

Source: Agencies


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