The drone maker declined to comment ahead of the US Treasury’s announcement on Wednesday. SenseTime delays its IPO after being hit by another US blacklist (Photo by Long Wei/VCG via Getty Images) Long Wei/VCG/Getty Images SHANGHAI, CHINA - JULY 07: People visit the booth of SenseTime, a leading global AI company that develops AI technologies, is seen during 2021 China Content Broadcasting Network Exhibition at China International Exhibition Center on Jin Shanghai, China. Thursday’s twin announcements came a week after Treasury slapped similar economic sanctions against two Chinese politicians and a Chinese artificial intelligence firm, SenseTime. The news was widely expected after being first reported by the Financial Times earlier this week.ĭJI and the seven other companies are already on the US entity list, which means they are barred from buying US products or importing American technology without a special license.ĭozens of Chinese companies and organizations were added to that export blacklist by the US Commerce Department on Thursday, in a bid to limit China’s use of US technologies for military purposes and for alleged human rights violations. financial system and American investors are not supporting these activities.” “Treasury remains committed to ensuring that the U.S. “Today’s action highlights how private firms in China’s defense and surveillance technology sectors are actively cooperating with the government’s efforts to repress members of ethnic and religious minority groups,” said Brian Nelson, undersecretary for terrorism and financial intelligence. The US Treasury Department announced Thursday that it has placed investment restrictions on the firms due to their roles in facilitating human rights abuses against China’s Uyghur Muslims in Xinjiang and other ethnic and religious minorities.Īs a result, American investors will be barred from buying or selling shares of the companies. The United States has added drone maker DJI and seven other Chinese companies to an investment blacklist, raising even more pressure on businesses in the world’s second largest economy.
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