financetom
Business
financetom
/
Business
/
US adds Tencent, CATL to list of Chinese firms allegedly aiding Beijing's military
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US adds Tencent, CATL to list of Chinese firms allegedly aiding Beijing's military
Jan 6, 2025 9:04 AM

WASHINGTON (Reuters) - The U.S. Defense Department said Monday it had added Chinese tech giants including gaming and social media leader Tencent Holdings ( TCTZF ) and battery maker CATL to a list of firms it says work with China's military.

The list included new additions WeChat-parent Tencent ( TCTZF ), CATL, chip maker Changxin Memory Technologies Inc (CXMT), Quectel Wireless and drone-maker Autel Robotics , according to a document published Monday.

The annually updated list of Chinese military companies, formally mandated under U.S. law as the "Section 1260H list", designated 134 companies, according to a notice posted to the Federal Register.

A Quectel spokesperson said the company "does not work with the military in any country and will ask the Pentagon to reconsider its designation, which clearly has been made in error".

The other companies and the Chinese Embassy in Washington did not respond to requests or did not immediately comment.

Amid strained relations between the world's two biggest economies, the updated list is one of numerous actions Washington has taken in recent years to highlight and restrict Chinese companies it says pose security risks.

U.S. lawmakers had pushed the Pentagon throughout 2024 to add some of the companies to the list.

While the designation does not involve immediate bans, it can be a blow to the reputations of affected companies and represents a stark warning to U.S. entities and firms about the risks of conducting business with them. It could also add pressure on the Treasury Department to sanction the companies.

Two previously listed companies, drone-maker DJI and Lidar-maker Hesai Technologies, both sued the Pentagon last year over their previous designations, but remain on the updated list.

The Pentagon also removed six companies it said no longer met the requirements for the designation, including AI firm Beijing Megvii Technology Co., Ltd., China Railway Construction Corporation Limited (CRCC), China State Construction Group Co., and China Telecommunications Corporation.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Nvidia CEO to defend AI dominance as competition intensifies
Nvidia CEO to defend AI dominance as competition intensifies
Mar 17, 2025
* Nvidia ( NVDA ) faces pressure from AI cost concerns and competition * Nvidia's ( NVDA ) Vera Rubin chip system expected to enter production this year * Nvidia ( NVDA ) explores quantum computing and humanoid robots By Stephen Nellis and Max A. Cherney March 17 (Reuters) - When Nvidia CEO Jensen Huang takes the stage this week...
Defence firm QinetiQ warns of delays in UK, US contracts being awarded
Defence firm QinetiQ warns of delays in UK, US contracts being awarded
Mar 17, 2025
(Reuters) - British defence and security company QinetiQ on Monday warned of delays in short-term contracts being awarded in the U.S. and UK, where new policies are being implemented after recent changes in government. Shares in the company, which develops and tests systems used across the defence, space, government and other sectors, fell as much as 20% and are on...
GFG Releases High-Grade Drill Results from Aljo Mine Target in Ontario
GFG Releases High-Grade Drill Results from Aljo Mine Target in Ontario
Mar 17, 2025
07:02 AM EDT, 03/17/2025 (MT Newswires) -- GFG Resources ( GFGSF ) on Monday reported drill results from the Aljo mine target on the company's Goldarm property in Ontario. Highlights of the results include 32.7 grams per tonne of gold over 0.5 meters, 6.62 g/t gold over 11.2 meters and 24.2 g/t gold over 0.5 meters. One drill hole expanded...
Belite Bio Q4 Loss Widens
Belite Bio Q4 Loss Widens
Mar 17, 2025
07:01 AM EDT, 03/17/2025 (MT Newswires) -- Belite Bio ( BLTE ) reported a Q4 net loss Monday of $0.32 per diluted share, widening from a loss of $0.25 a year earlier. Analysts polled by FactSet expected a loss of $0.31. As of the end of 2024, the company said it had a cash balance of $31.7 million. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved