U.S. Blacklists More Than 60 Chinese Firms, Including SMIC
- SMIC’s shares slide 5.2% in Hong Kong trading on the news
- The effort is part of a wider campaign to contain China’s rise
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The U.S. Commerce Department announced it’s blacklisting Semiconductor Manufacturing International Corp., drone maker SZ DJI Technology Co. and more than 60 other Chinese companies “to protect U.S. national security.”
“This action stems from China’s military-civil fusion doctrine and evidence of activities between SMIC and entities of concern in the Chinese military industrial complex,” the Commerce Department said in a statement.