Index Investing News
Thursday, May 29, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

US provides Tencent, CATL to listing of Chinese language companies allegedly aiding Beijing’s navy By Reuters

by Index Investing News
January 7, 2025
in Stocks
Reading Time: 3 mins read
A A
0
Home Stocks
Share on FacebookShare on Twitter


By Michael Martina, David Shepardson and Karen Freifeld

WASHINGTON/NEW YORK (Reuters) -The U.S. Protection Division stated on Monday it has added Chinese language tech giants together with gaming and social media chief Tencent Holdings (OTC:) and battery maker CATL to a listing of companies it says work with China’s navy. 

The listing additionally included chip maker Changxin Reminiscence Applied sciences, Quectel Wi-fi and drone maker Autel Robotics, in response to a doc printed on Monday.

The yearly up to date listing of Chinese language navy corporations, formally mandated underneath U.S. legislation because the “Part 1260H listing,” designated 134 corporations, in response to a discover posted to the Federal Register.

The Hong Kong-listed shares of Tencent fell as a lot as 7% in early commerce, whereas the U.S.-traded shares of the corporate, which can also be the dad or mum of Chinese language on the spot messaging app WeChat, fell 8% in over-the-counter buying and selling.

Tencent stated in an announcement that its inclusion on the listing was “clearly a mistake.” It added: “We aren’t a navy firm or provider. In contrast to sanctions or export controls, this itemizing has no impression on our enterprise.”

CATL, the world’s largest electrical car battery maker whose Shenzhen-listed shares dropped greater than 5%, additionally referred to as the designation a mistake, saying it “shouldn’t be engaged in any navy associated actions.”

A Quectel spokesperson stated the corporate “doesn’t work with the navy in any nation and can ask the Pentagon to rethink its designation, which clearly has been made in error.” Quectel’s shares fell practically 7%.

The opposite corporations and the Chinese language embassy in Washington didn’t instantly reply to requests for remark.

IMPACT ON COMPANIES

The up to date listing is one among quite a few actions taken by Washington lately to spotlight and limit Chinese language corporations it says pose safety dangers, weighing on strained relations between the world’s two greatest economies.

Jefferies stated in a analysis observe the aim of the Chinese language Army Firms (CMC) listing was to precise the opinion of the Protection Division which might function a reference for different authorities departments.

“Probably the most severe consequence for CMC corporations is U.S. funding ban, but it surely’s all as much as Trump and his workforce.”

Craig Singleton, a China skilled on the Basis for Protection of Democracies, stated the additions confirmed that it was “reckless” for American companies to conduct enterprise with a rising swath of Chinese language firms.

“The U.S. is not simply safeguarding a handful of applied sciences anymore,” he stated. “The backyard of delicate applied sciences is rising, and the fence defending them is being fortified. As we speak’s listing lays naked that these aren’t simply industrial corporations. They’re essential enablers of China’s navy modernization, straight fueling Beijing’s strategic ambitions.”

Different corporations added embrace MGI Tech, which makes genomic sequencing devices, and Origincell Expertise, which lawmakers have alleged operates a cell financial institution community and bio-storage applied sciences. Neither agency instantly responded to requests for feedback.

U.S. lawmakers had pushed the Pentagon all through 2024 so as to add a number of the corporations, together with CATL, to the listing. Ford Motor (NYSE:) is constructing a battery plant in Michigan and plans to license CATL expertise to supply low-cost lithium-iron batteries on the facility – a transfer that has sparked issues by some lawmakers. Ford didn’t instantly touch upon Monday.

Whereas the designation doesn’t contain rapid bans, it may be a blow to the reputations of affected corporations and represents a stark warning to U.S. entities and companies in regards to the dangers of conducting enterprise with them. It might additionally add stress on the Treasury Division to sanction the businesses.

Two beforehand listed corporations, drone maker DJI and Lidar-maker Hesai Applied sciences, each sued the Pentagon final yr over their earlier designations, however stay on the up to date listing. 

The Pentagon additionally eliminated six corporations it stated not met the necessities for the designation, together with AI agency Beijing Megvii Expertise, China Railway Development Company Restricted, China State Development Group Co and China Telecommunications Company.





Source link

Tags: addsaidingallegedlyBeijingsCATLChineseFirmsListMilitaryReutersTencent
ShareTweetShareShare
Previous Post

Skip Bayless, Fox Sports activities, Others Hit With Sexual Battery & Retaliation Go well with

Next Post

20-25% market share by 2047: India’s bold plans for the semiconductor trade

Related Posts

PayPal Holdings, Inc. (PYPL) Bernstein forty first Annual Strategic Choices Convention (Transcript)

PayPal Holdings, Inc. (PYPL) Bernstein forty first Annual Strategic Choices Convention (Transcript)

by Index Investing News
May 28, 2025
0

PayPal Holdings, Inc. (NASDAQ:PYPL) Bernstein forty first Annual Strategic Choices Convention Might 28, 2025 9:00 AM ET Firm Individuals Alex...

Attire Insider: Knowledge and Tendencies for Resellers (2025)

Attire Insider: Knowledge and Tendencies for Resellers (2025)

by Index Investing News
May 28, 2025
0

Most of the world’s main manufacturers and retailers depend on B-Inventory—the world’s largest B2B recommerce platform—to shortly and effectively resell...

Baird Small/Mid Cap Development Fairness Fund Q1 2025 Commentary

Baird Small/Mid Cap Development Fairness Fund Q1 2025 Commentary

by Index Investing News
May 28, 2025
0

This text was written byObserveBaird is a world monetary companies agency offering Personal Wealth Administration, Belief, Asset Administration, Funding Banking,...

Semtech Company 2026 Q1 – Outcomes – Earnings Name Presentation (NASDAQ:SMTC)

Semtech Company 2026 Q1 – Outcomes – Earnings Name Presentation (NASDAQ:SMTC)

by Index Investing News
May 28, 2025
0

This text was written byObserveLooking for Alpha's transcripts workforce is answerable for the event of all of our transcript-related initiatives....

“Previous-Original” Technical Evaluation Factors To Warning (SPX)

“Previous-Original” Technical Evaluation Factors To Warning (SPX)

by Index Investing News
May 27, 2025
0

This text was written byObserveMichael James McDonald is a inventory market forecaster, creator and former Senior Vice President of Investments...

Next Post
20-25% market share by 2047: India’s bold plans for the semiconductor trade

20-25% market share by 2047: India’s bold plans for the semiconductor trade

The Reluctant Activist, or Not Solely Can You Battle Metropolis Corridor, You Can Really Win

The Reluctant Activist, or Not Solely Can You Battle Metropolis Corridor, You Can Really Win

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Congress alleges Sebi chairperson Madhabi Puri Buch of offering false data to regulator about her husband’s agency Agora

Congress alleges Sebi chairperson Madhabi Puri Buch of offering false data to regulator about her husband’s agency Agora

September 10, 2024
High Dividend 50: Medifast, Inc.

High Dividend 50: Medifast, Inc.

January 21, 2023
JPMorgan’s Dimon and BlackRock’s Fink warn of ‘higher for longer’ rates

JPMorgan’s Dimon and BlackRock’s Fink warn of ‘higher for longer’ rates

April 15, 2023
IEC cancels Eshkol power station tender

IEC cancels Eshkol power station tender

July 19, 2023
Tributes to ‘beautiful’ London mum found dead in a bag on Peru holiday as cops probe ‘chilling recording from boyfriend’

Tributes to ‘beautiful’ London mum found dead in a bag on Peru holiday as cops probe ‘chilling recording from boyfriend’

October 14, 2022
Brit boy, 8, who was left brain dead after developing rash on holiday dies as mum pays tribute to her ‘darling baby’

Brit boy, 8, who was left brain dead after developing rash on holiday dies as mum pays tribute to her ‘darling baby’

January 14, 2023
Seeking an Oasis in the Palm Springs Desert With 0,000 to Spend. Which Home Did He Choose?

Seeking an Oasis in the Palm Springs Desert With $350,000 to Spend. Which Home Did He Choose?

January 19, 2023
Ben Simmons is starting to look like an NBA star again

Ben Simmons is starting to look like an NBA star again

November 2, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In