Beijing on Thursday advised the US that restrictions on its productions would “come back to bite them”, after Washington added a number of Chinese multinationals to a list of companies linked to its military.
On Wednesday, Pentagon placed several Chinese firms on the list of companies aiding Beijing’s people’s liberation army, including Yangtze Memory technologies, one of China’s biggest chip manufacturing.
The move bans the companies from any future US military contracts, and places them under microscopic checks and balances as the US seeks to cut Chinese companies’ access to sensitive technology.
When enquired about the move, China’s foreign ministry sentenced the USA for “unreasonably suppressing Chinese firms”.
“These US actions violate principles of market competition and global economic and trade rules,” foreign ministry spokesperson Wang Wenbin said, warning it would harm the interests of American firms and investors.
“This will come back to bite them,” Wang warned.
Wang insisted that “many large US MNC’s are military-civilian fusions”, insisting China “will continue to firmly safeguard the legitimate rights and interests of its firms”,
Whitehouse’s list of Chinese military companies which gets updated periodically, features a number of prominent Chinese firms, many of whom are already blacklisted by other US government departments including tech giant Huawei and Chip manufacturer SMIC.
In addition to Yangtze, other top companies are added on Wednesday were US sanctioned AI firms Megvii and drone maker Chengdu Jouav.
