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The U.S. blacklisted nine Chinese companies, including Xiaomi

Washington: With just days to go before to step down from the US presidency, the Trump administration has hit China hard again.

Sanctions have been imposed on officials and Chinese companies over China’s moves in the South China Sea. Investment in companies is also banned. The move comes just days before President-elect Joe Biden takes office.

The Pentagon’s list includes nine companies, including Comac and Xiaomi The move comes amid allegations of links to the Chinese military. The US will ban investing in these companies.

Those companies will be subject to a new U.S. investment ban that would ban them from investing in blacklisted companies by November 11, 2021.

This will force American investors to withdraw shares from these blacklisted companies.

In addition to Comac and Xiaomi, Advanced Fabrication Equipment Incorporations, Luok Kong Technology Corp, Gowin Semiconductor Corp, Grand China Air, Beijing Shongquangkung Development Investment Center, Global Tone Communication Technology Co., Ltd., China National Aviation Holding To Ltd. are also included in the black list.

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