US govt blacklists Xiaomi, CNOOC, Skyrizon, raising heat on China
The US government has
blacklisted Chinese smartphone maker Xiaomi Corp. and
China's third-largest national oil company for alleged military links, heaping
pressure on Beijing in President Donald Trumps last week in office.
The Department of Defense added nine companies to
its list of Chinese companies with
military links, including Xiaomi and
state-owned plane manufacturer Commercial Aircraft Corp. of China (Comac).
US investors will have to divest their stakes in Chinese companies on
the military list by November this year, according to an executive order signed
by Trump in November.
Xiaomi did
not immediately respond to a request for comment.
Xiaomi Corp. overtook Apple Inc. as the worlds No. 3 smartphone
maker by sales in the third quarter of 2020, according to data by Gartner.
Xiaomis market share has grown as Huaweis sales have suffered after it was
blacklisted by the U.S. and its smartphones were cut off from essential
services from Google.
Separately, the Commerce Department put China National Offshore
Oil Corp. (CNOOC) on the entity list, an economic blacklist that forbids U.S.
firms from exporting or transferring technology with the companies named unless
permission has been obtained from the U.S. government. The move comes after
about 60 Chinese companies were added to the list in December, including drone
maker DJI and semiconductor firm SMIC.
Budget News: unionbudget2021-2022
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