NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

US puts trade curbs on 5 Chinese firms over alleged role in Uyghur repression

Published 03/28/2023, 05:14 PM
Updated 03/29/2023, 04:11 AM
© Reuters. FILE PHOTO: U.S. and Chinese flags are seen in this illustration taken, January 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

WASHINGTON (Reuters) -The Biden administration on Tuesday imposed new trade restrictions on five Chinese companies for allegedly aiding in the repression of the Uyghur Muslim minority but China rejected the accusation as "lies" aimed at constraining it.

According to Hikvision's 2021 half-year report, at least four of the companies facing new curbs belong to the Chinese surveillance camera maker including Luopu Haishi Dingxin Electronic Technology Co, Moyu Haishi Electronic Technology Co, Pishan Haishi Yong'an Electronic Technology Co and Urumqi Haishi Xin'an Electronic Technology Co.

Yutian Haishi Meitian Electronic Technology Co Ltd was also added.

Hikvision did not immediately respond to a request for comment.

The companies "have been implicated in human rights violations and abuses in the implementation of China’s campaign of repression, mass arbitrary detention and high-technology surveillance against the Uyghur people and members of other Muslim minority groups," in the Xinjiang region, the Commerce Department said in a posting in the Federal Register.

Chinese foreign ministry spokesperson Mao Ning said the United States "wantonly suppresses Chinese firms with lies and politicises normal business and economic cooperation" and its move is aimed at destabilising Xinjiang and using the issues to constrain China.

"The idea that there exists so-called repression of Muslim minorities in Xinjiang has long been debunked," Mao said at a regular briefing on Wednesday.

She also said that China would take all necessary measures to defend the legitimate rights and interests of Chinese firms.

Being added to the entity list means U.S. suppliers must get a special and difficult-to-obtain license before shipping goods to those companies.

© Reuters. FILE PHOTO: U.S. and Chinese flags are seen in this illustration taken, January 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

The United States has increasingly used the list to target Chinese firms.

Hikvision was placed on the U.S. trade blacklist in 2019 for being implicated in human rights violations and abuses in the implementation of what rights groups and Uyghur activists say is China's campaign of repression, mass arbitrary detention, and high-technology surveillance against Uyghurs and other Muslims in Xinjiang.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.