The Trump administration blacklisted Chinese smartphone manufacturer Xiaomi Corp. for alleged military links along with the country’s third-biggest oil company over its drilling in the South China Sea, part of a final push to ratchet up pressure on Beijing before President-elect Joe Biden takes office.
by Bloomberg
|Friday, January 15, 2021
The Trump administration blacklisted China's third-biggest oil company over its drilling in the South China Sea.
(Bloomberg) -- The Trump administration blacklisted Chinese smartphone manufacturer Xiaomi Corp. for alleged military links along with the country’s third-biggest oil company over its drilling in the South China Sea, part of a final push to ratchet up pressure on Beijing before President-elect Joe Biden takes office.
Xiaomi was one of nine firms added to the Defense Department’s list of Chinese military companies, a move that will restrict U.S. investments in its securities. Other firms include state-owned planemaker Commercial Aircraft Corp. of China Ltd., or Comac, which is central to China’s goal of creating a narrow-body plane that can compete with Boeing Co. and Airbus SE.
U.S. blacklists Xiaomi in widening assault against China technology
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Xiaomi Corp. plunged a record 10 per cent after the Trump administration blacklisted Chinaâs No. 2 smartphone maker and 10 other companies, broadening efforts to undercut the expansion of the countryâs technology sector.
The U.S. has targeted scores of Chinese companies for the stated purpose of protecting national security, but going after Xiaomi was unexpected. The Beijing-based company has been viewed as Chinaâs answer to Apple Inc., producing sleek smartphones that draw loyal fans with each new release. The company, which vies with Huawei Technologies Co. for the title of Chinaâs No. 1 mobile device brand, also makes electric scooters, earphones and smart rice cookers.
US President Donald Trump’s administration on Thursday blacklisted Chinese smartphone manufacturer Xiaomi Corp (小米) for alleged military links along with the nation’s third-biggest oil company over its drilling in the South China Sea, part of a final push to ratchet up pressure on Beijing before US president-elect Joe Biden takes office.
Xiaomi was one of nine firms added to the US Department of Defense’s list of Chinese military companies. Other firms include state-owned planemaker Commercial Aircraft Corp of China Ltd (中國商用飛機有限公司), which is central to China’s goal of creating a narrow-body plane that can compete with Boeing Co and Airbus SE.
Meanwhile,
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By Jing Yang, Dawn Lim and Gordon Lubold The U.S. government is expected to let Americans continue to invest in Chinese technology giants Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Baidu Inc., after weighing the firms' alleged ties to China's military against the potential economic impact of banning them. New York-listed Alibaba and Baidu, and Hong Kong-listed Tencent, were among a dozen companies being examined for inclusion in a Defense Department list of firms deemed to support China's military, intelligence and security services, according to people familiar with the matter. U.S. investors have until November to divest their holdings of any firm on the list.
Jan 07 2021, 6:44 PM
January 07 2021, 2:13 AM
January 07 2021, 6:44 PM
(Bloomberg) -- Alibaba Group Holding Ltd and Tencent Holdings Ltd. tumbled, pulling down other Chinese stocks that trade in the U.S. after a report the U.S. is considering adding the two internet heavyweights to the China stock ban that has whipsawed some Asian-based companies this week.
(Bloomberg) -- Alibaba Group Holding Ltd and Tencent Holdings Ltd. tumbled, pulling down other Chinese stocks that trade in the U.S. after a report the U.S. is considering adding the two internet heavyweights to the China stock ban that has whipsawed some Asian-based companies this week.
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China Telcos Rally as Mainland Funds Buy Record Hong Kong Stocks
Bloomberg 1/11/2021 Jeanny Yu and Felix Tam
(Bloomberg) -- Having slumped under the weight of a U.S. executive order, China’s three major telecommunications companies are on the rebound in Hong Kong -- supported by a record inflow of mainland cash.
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Mainland traders bought a record HK$19.5 billion ($2.5 billion) of Hong Kong stocks through trading links Monday, according to data compiled by Bloomberg. China Mobile Ltd. led the gains for the country’s wireless majors, rising 5.8%. Its shares, along with those of China Telecom Corp. and China Unicom Hong Kong Ltd. declined last week as index firms said they’d remove them from their gauges to comply with U.S. sanctions, and the New York Stock Exchange said it would delist them.
Hong Kong’s original stock market tracker yesterday said it would make no new investments in firms listed by Washington as having links to China’s military as it also recommended Americans to no longer invest in the fund.
The announcement is the latest stark illustration of how tensions between the world’s two biggest economies are causing headaches for international firms in Hong Kong, which has long served as China’s gateway to global markets.
Outgoing US President Donald Trump in November issued an order banning Americans from investing in Chinese firms deemed to be supplying or supporting the Asian giant’s military.
Yesterday, the Tracker Fund