U.S. Sanctions 24 Chinese Companies Involved in South China Sea Dispute
On August 26, 2020, the U.S. Government added 24 Chinese companies which help the Chinese military construct artificial islands in the South China Sea to an Entity List that bans them from purchasing American products, including 5 companies under Chinese Communication Construction Company in Hong Kong. The Chinese officials have not replied to the issue yet but the website under Global Times posted the news on WeChat, with a title "Sudden Disturbance".
The list includes Beijing Huanjia Telecommunication Co., Chongxin Bada Technology Development Co., Shanghai Cable Offshore Engineering Co., Tianjin Broadcasting Equipment Co., and the research institutes of the China Electronics Technology Group Corporation and China Shipbuilding Group.
Entity List also includes several divisions of China Communications Construction Company, which is in the Hong Kong stock exchange market (No. 1800). China Communications Construction Company is a contractor, handling many of the infrastructure projects for China's “Belt and Road” initiative around the world.
The U.S. State Department will impose visa restrictions on Chinese citizens who are “responsible for“, or “complicit in”, either the large-scale reclamation, construction, or militarization of disputed outposts in the South China Sea.” The family members of these sanctioned individuals may also face visa restrictions.
As the New York Times reports:
"The Chinese government has been rapidly building artificial islands in the disputed waters since 2013, dredging and constructing more than 3,000 acres of new land, including air defence and anti-ship missile features, the Commerce Department said in its announcement.
The island-building undermines the sovereignty of other countries in the region and comes despite the condemnation of the United States and other countries, according to the announcement."
#Sanction #SouthChinaSea #US #ChineseCompanies #HKStockExchange
Source: Apple Daily; New York Times #Aug26
https://hk.appledaily.com/china/20200826/7BPXGKYR4NBV5HZQTKTFSR6LGU/
On August 26, 2020, the U.S. Government added 24 Chinese companies which help the Chinese military construct artificial islands in the South China Sea to an Entity List that bans them from purchasing American products, including 5 companies under Chinese Communication Construction Company in Hong Kong. The Chinese officials have not replied to the issue yet but the website under Global Times posted the news on WeChat, with a title "Sudden Disturbance".
The list includes Beijing Huanjia Telecommunication Co., Chongxin Bada Technology Development Co., Shanghai Cable Offshore Engineering Co., Tianjin Broadcasting Equipment Co., and the research institutes of the China Electronics Technology Group Corporation and China Shipbuilding Group.
Entity List also includes several divisions of China Communications Construction Company, which is in the Hong Kong stock exchange market (No. 1800). China Communications Construction Company is a contractor, handling many of the infrastructure projects for China's “Belt and Road” initiative around the world.
The U.S. State Department will impose visa restrictions on Chinese citizens who are “responsible for“, or “complicit in”, either the large-scale reclamation, construction, or militarization of disputed outposts in the South China Sea.” The family members of these sanctioned individuals may also face visa restrictions.
As the New York Times reports:
"The Chinese government has been rapidly building artificial islands in the disputed waters since 2013, dredging and constructing more than 3,000 acres of new land, including air defence and anti-ship missile features, the Commerce Department said in its announcement.
The island-building undermines the sovereignty of other countries in the region and comes despite the condemnation of the United States and other countries, according to the announcement."
#Sanction #SouthChinaSea #US #ChineseCompanies #HKStockExchange
Source: Apple Daily; New York Times #Aug26
https://hk.appledaily.com/china/20200826/7BPXGKYR4NBV5HZQTKTFSR6LGU/