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Another day and another sanction.
Trump administration to add China’s SMIC, CNOOC to export blacklist: report
A man stands outside the headquarters building of China National Offshore Oil Corporation (CNOOC) in Beijing in 2016. AFP/Getty Images
The Trump administration is set to add China’s largest chip maker, SMIC, and oil giant CNOOC to its export blacklist, claiming they’re owned or controlled by the Chinese military, Reuters reported Sunday.
It was unclear exactly when the new designations would take effect. China Construction Technology Co. Ltd. and China International Engineering Consulting Corp. will also reportedly be added to the list. The designation would make it far more difficult for U.S. companies to export technology to the four Chinese companies. Huawei Technologies Co. was added to the list in May.
Semiconductor Manufacturing International Corp. is China’s most advanced semiconductor manufacturer, and China National Offshore Oil Corp. is one of China’s largest energy companies.
CNOOC shares 883, -8.47% plunged more than 7% in Monday trading in Hong Kong, while SMIC 981, 0.00% fell about 1%. SMIC pulled its U.S. stock listing last year, while CNOOC’s American depository receipts CEO, -1.60% are down 27% year to date.
Hi KYli,Another day and another sanction.
Trump administration to add China’s SMIC, CNOOC to export blacklist: report
A man stands outside the headquarters building of China National Offshore Oil Corporation (CNOOC) in Beijing in 2016. AFP/Getty Images
The Trump administration is set to add China’s largest chip maker, SMIC, and oil giant CNOOC to its export blacklist, claiming they’re owned or controlled by the Chinese military, Reuters reported Sunday.
It was unclear exactly when the new designations would take effect. China Construction Technology Co. Ltd. and China International Engineering Consulting Corp. will also reportedly be added to the list. The designation would make it far more difficult for U.S. companies to export technology to the four Chinese companies. Huawei Technologies Co. was added to the list in May.
Semiconductor Manufacturing International Corp. is China’s most advanced semiconductor manufacturer, and China National Offshore Oil Corp. is one of China’s largest energy companies.
CNOOC shares 883, -8.47% plunged more than 7% in Monday trading in Hong Kong, while SMIC 981, 0.00% fell about 1%. SMIC pulled its U.S. stock listing last year, while CNOOC’s American depository receipts CEO, -1.60% are down 27% year to date.
No.China should file lawsuits to stop all of these sanctions.
Nah China can beat them fair n square. Electric cars isn't like jet turbines or EUV machines.The goal now should be to get TESLA so invested in China that when the Chinese gov. forces TESLA to be sold to a Chinese firm, they either have to do it or perish as a company; all the more so given that TESLA seems like a cutout for CIA ops