Chinese tech companies Tencent, CATL and others protest US listings as army-linked companies
2 days, 16 hours ago

Chinese tech companies Tencent, CATL and others protest US listings as army-linked companies

Associated Press  

HONG KONG — The U.S. Defense Department has added dozens of Chinese companies, including games and technology company Tencent, artificial intelligence firm SenseTime and the world’s biggest battery maker CATL, to a list of companies it says have ties to China’s military, prompting some to protest and say they will seek to have the decision reversed. Tencent’s Hong Kong-traded shares fell 7.3% on Tuesday and the company said it would “initiate a reconsideration process to correct this mistake,” seek talks with the U.S. Defense Department and if need be take legal measures to get it removed from the list. “As the company is neither a Chinese military company nor a military-civil fusion contributor to the Chinese defense industrial base, it believes that its inclusion in the CMC List is a mistake,” Tencent said in an announcement to the Hong Kong Stock Exchange. During a daily news briefing, Chinese Ministry of Foreign Affairs spokesperson Guo Jiakun urged the U.S. to “immediately correct its wrong practices, and lift the illegal unilateral sanctions and long-arm jurisdiction on Chinese companies.” “China consistently and firmly opposes the U.S. overstretching the concept of national security, creating discriminatory lists under various pretexts, and unwarrantedly suppressing Chinese companies, hindering China’s high-quality development,” Guo said.

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