[News] Pentagon Updates List of “Chinese Military Companies,” Including YMTC and Others

2024-02-01 Semiconductors editor

US officials have announced that the Pentagon has added over a dozen Chinese companies to a list established by the US Department of Defense. This list identifies entities accused of collaborating with the Chinese military.

According to the Pentagon’s website, the Department of Defense updated the list of “Chinese military companies” operating directly or indirectly in the United States, in accordance with Section 1260H of the National Defense Authorization Act (NDAA) for the fiscal year 2021.

As per a report from Reuters, the newly added companies to the list include Chinese memory manufacturer Yangtze Memory Technologies Corp (YMTC), artificial intelligence (AI) firm MEGVII, radar manufacturer Hesai Technology, and technology company NetPosa.

Reportedly, being listed on this roster doesn’t automatically impose bans, but it poses significant reputational risks for the designated companies and issues stern warnings to US entities, cautioning them about the risks associated with conducting business with these enterprises.

The list could also amplify pressure from the US Treasury Department to sanction these companies.

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Please note that this article cites information from Reuters.