InstaForex

November 25, 2021

America ‘Blacklist’ 12 Chinese Technology Firms!

 Relations between the two world economies appear to have not yet recovered, after the United States reportedly re -attacked China by blacklisting several more firms from the mainland.


Most recently, the U.S. Department of Commerce has added eight technology entities to the blacklist, claiming they helped develop China’s military quantum computing program and tried to procure U.S. -made goods in support for military use.


U.S. officials have long complained that Beijing companies are tied to the government of the People’s Republic of China and collect sensitive information on behalf of the People’s Liberation Army (PLA).



In addition, the Biden administration also listed 16 entities and individuals operating in China and Pakistan for their work in the Islamabad nuclear and ballistic missile program.


In total, the U.S. government has added 27 entities and individuals from China, Pakistan, Russia, Japan and Singapore.


The Chinese Communist Party has previously said that it is not involved in industrial espionage.


In response, Chinese Commerce Ministry spokesman Shu Jueteng said such a move did not help in bilateral relations between the US and China, and also described the sanctions as unfounded.