Unique Crypto Strategies
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

Unique Crypto Strategies

World

US adds Chinese tech giants to list of companies allegedly working with China’s military

by January 7, 2025
January 7, 2025
US adds Chinese tech giants to list of companies allegedly working with China’s military

The US Defense Department has added Chinese tech companies Tencent, a social media and gaming giant, and CATL, the world’s largest battery maker, to a list of firms that it alleges work with China’s military.

Inclusion on the Pentagon list does not result in any immediate sanctions, but it could affect the reputations of the companies named and hinder their commercial progress, particularly if they want to do business in the United States.

Shares in Tencent, which owns Chinese super-app WeChat, were 6.5% lower in Hong Kong on Tuesday, while CATL’s Shenzhen-listed shares lost more than 3%.

They join dozens of other alleged Chinese military companies on the list that the Defense Department alleges operate directly or indirectly in the US, according to a notice posted to the Federal Register on Monday.

The Pentagon has said the so-called 1260H list, which is updated annually, is “an important continuing effort” in highlighting and countering China’s “military-civil fusion” strategy, a goal to develop the most technologically advanced military in the world by eliminating barriers between the country’s civilian research and commercial sectors and its armed forces.

“We are not a military company or supplier. Unlike sanctions or export controls, this listing has no impact on our business. We will nonetheless work with the Department of Defense to address any misunderstanding,” a spokesperson said.

A tech rivalry between Washington and Beijing has been escalating ahead of the inauguration of US President-elect Donald Trump later this month. Last week, Beijing said it was planning to curb the export of technology used to extract minerals critical for the growth of the global electric vehicle (EV) industry.

In December, the outgoing Biden administration imposed fresh export controls on US-made semiconductors that Washington fears Beijing could use to make the next generation of weapons and artificial intelligence (AI) systems.

The US Commerce Department said the goal of the curbs was to slow China’s development of advanced AI tools that can be used in war and to undercut the country’s homegrown semiconductor industry, which it says threatens the national security of the US and its allies.

Since coming to power in late 2012, China’s top leader Xi Jinping has unleashed sweeping reforms to transform the Chinese military into a world-class fighting force. A key part of that modernization drive has been to better integrate the country’s private sector and defense industrial base through the sharing of resources, talent and cutting-edge technologies.

While efforts to break down barriers between China’s military and civil sectors date back to the 1990s, the military-civil fusion strategy has been increasingly promoted under Xi and elevated to a national strategy in 2014, as part of the leader’s vision to turn China into an economic, technological and military superpower.

This post appeared first on cnn.com
0
FacebookTwitterGoogle +Pinterest
previous post
Trump’s attorneys have reviewed draft of Smith’s final special counsel report and want it blocked from public release
next post
Spanish woman killed by elephant in Thailand while bathing animal, police say

You may also like

EU urges citizens to stockpile 72 hours’ worth...

As France sinks into the political mire, Macron...

Former defense minister accuses Israel of ethnic cleansing...

Tears of joy as Valerie the runaway dachshund...

Judge rules Brazilian boy can officially have three...

Putin says he’s open to direct talks with...

29 children may be sentenced to death for...

One in three Australian men say they have...

2024 was the deadliest year for journalists in...

Trump will shake the world up. Maybe that’s...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Russia sanctions bill gains steam as White House appears to change tone...

    • Justice Jackson: I get to tell people ‘how I feel’ in court opinions

    • Trump’s nominee to lead US Office of Special Counsel refutes antisemitic claims and ties to Holocaust denier

    • Comer dismisses Biden doctor’s bid for pause in cover-up probe: ‘Throwing out every excuse’

    • Pro-Trump ‘troll’ who spread Hillary text-to-vote memes in 2016 has conviction tossed by appeals court

    Categories

    • Business (542)
    • Investing (2,684)
    • Politics (4,279)
    • Uncategorized (1)
    • World (2,735)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: uniquecryptostrategies.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 uniquecryptostrategies.com | All Rights Reserved


    Back To Top