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.
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.
As a result, American investors will be barred from buying or selling shares of the companies.
"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. "Treasury remains committed to ensuring that the U.S. financial system and American investors are not supporting these activities."
The news was widely expected after being first reported by the Financial Times earlier this week.
DJI 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.
Continue reading: https://www.cnn.com/2021/12/16/tech/dji-us-investment-blacklist-intl-hnk/index.html
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.
As a result, American investors will be barred from buying or selling shares of the companies.
"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. "Treasury remains committed to ensuring that the U.S. financial system and American investors are not supporting these activities."
The news was widely expected after being first reported by the Financial Times earlier this week.
DJI 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.
Continue reading: https://www.cnn.com/2021/12/16/tech/dji-us-investment-blacklist-intl-hnk/index.html
