#Newspaper
US sanctions 8 Chinese AI tech companies - SenseTime (HK) on the list
(Oct 8) The U.S. Commerce Department claimed that these companies on the “Entity List” have assisted the Chinese government and participated in activities which violate human rights of Muslim minorities such as the Uyghurs in the province of Xinjiang. This is the first time the U.S. government has placed sanctions on Chinese companies for human rights violations. The Chinese government has condemned the US for meddling with what they consider to be internal affairs in China. The Chinese Commerce Department expressed their opposition of the U.S. for unilaterally applying U.S. laws on Chinese entities.
Continue reading:
https://telegra.ph/US-sanctions-8-Chinese-AI-tech-companies---SenseTime-HK-on-the-list-11-09
#TradeWar #USSanction #HumanRights
US sanctions 8 Chinese AI tech companies - SenseTime (HK) on the list
(Oct 8) The U.S. Commerce Department claimed that these companies on the “Entity List” have assisted the Chinese government and participated in activities which violate human rights of Muslim minorities such as the Uyghurs in the province of Xinjiang. This is the first time the U.S. government has placed sanctions on Chinese companies for human rights violations. The Chinese government has condemned the US for meddling with what they consider to be internal affairs in China. The Chinese Commerce Department expressed their opposition of the U.S. for unilaterally applying U.S. laws on Chinese entities.
Continue reading:
https://telegra.ph/US-sanctions-8-Chinese-AI-tech-companies---SenseTime-HK-on-the-list-11-09
#TradeWar #USSanction #HumanRights
Telegraph
US sanctions 8 Chinese AI tech companies - SenseTime (HK) on the list
Ahead of the China-U.S. trade talks, the U.S. Commerce Department announced sanctions on a list of 28 Chinese public security bureaus and companies which includes 8 companies involved in artificial intelligence technologies. Amongst them is Hong Kong-based…
#Sanction #HongKongAutonomyAct
#US State Department Warns: Foreign Financial Institutions Will Be Sanctioned For Trading With HK and PRC Officials on US Sanction List
The US Department of State submitted a report on Oct 14, 2020 with regard to The Hong Kong Autonomy Act.
The report warned:
- In 30 to 60 days from Oct 14, 2020, a report identifying the foreign financial institutions (#FFI) that knowingly conduct a significant transaction with the sanctioned persons will be submitted to the US Congress.
- Within one year after an FFI has been included in the said report, the U.S. President shall impose 5 out of 10 of the sanctions (as follows) and ALL of the sanctions no later than two years. These include:
(1) restrictions on loans from U.S. financial institutions;
(2) prohibitions on designation as a primary dealer;
(3) prohibitions on service as a repository of government funds;
(4) restrictions on foreign exchange;
(5) prohibitions on banking transactions;
(6) prohibitions on property transactions;
(7) restrictions on exports, re–exports, and transfers;
(8) bans on investments in equity or debt;
(9) exclusions of corporate officers; and
(10) sanctions of principal executive officers.
- Not later than one year from Oct 14, 2020, the U.S. President shall impose certain blocking sanctions on the listed persons and subject them to visa restrictions and exclusion from the United States. The sanctioned persons in Hong Kong and China include:
(1) Xia Baolong, the head of the Hong Kong and Macao Affairs Office
(2) Zhang Xiaoming, Deputy Director of the Hong Kong and Macao Affairs Office
(3) Luo Huining, director of the Central Government Liaison Office
(4) Carrie Lam, Chief Executive of Hong Kong
(5) Teresa Cheng, Secretary for Justice and principal legal advisor to Chief Executive
(6) Erick Tsang, Secretary for Constitutional and Mainland Affairs
(7) Zheng Yanxiong, head of the Office for Safeguarding National Security of the Central Government in Hong Kong
(8) Eric Chan, Secretary-General of the Committee for Safeguarding National Security of the HKSAR
(9) John Lee, Secretary for Security
(10) Chris Tang, Commissioner of Police
The State Department emphasized that the release of the report shows US' "ongoing objection to Beijing’s actions that are intentionally designed to erode the freedoms of the people of Hong Kong and impose the CCP’s oppressive policies".
Image: Apple Daily
Source: U.S. Department of State #Oct14
https://www.state.gov/identification-of-foreign-persons-involved-in-the-erosion-of-the-obligations-of-china-under-the-joint-declaration-or-the-basic-law/
#US #USSanction
#US State Department Warns: Foreign Financial Institutions Will Be Sanctioned For Trading With HK and PRC Officials on US Sanction List
The US Department of State submitted a report on Oct 14, 2020 with regard to The Hong Kong Autonomy Act.
The report warned:
- In 30 to 60 days from Oct 14, 2020, a report identifying the foreign financial institutions (#FFI) that knowingly conduct a significant transaction with the sanctioned persons will be submitted to the US Congress.
- Within one year after an FFI has been included in the said report, the U.S. President shall impose 5 out of 10 of the sanctions (as follows) and ALL of the sanctions no later than two years. These include:
(1) restrictions on loans from U.S. financial institutions;
(2) prohibitions on designation as a primary dealer;
(3) prohibitions on service as a repository of government funds;
(4) restrictions on foreign exchange;
(5) prohibitions on banking transactions;
(6) prohibitions on property transactions;
(7) restrictions on exports, re–exports, and transfers;
(8) bans on investments in equity or debt;
(9) exclusions of corporate officers; and
(10) sanctions of principal executive officers.
- Not later than one year from Oct 14, 2020, the U.S. President shall impose certain blocking sanctions on the listed persons and subject them to visa restrictions and exclusion from the United States. The sanctioned persons in Hong Kong and China include:
(1) Xia Baolong, the head of the Hong Kong and Macao Affairs Office
(2) Zhang Xiaoming, Deputy Director of the Hong Kong and Macao Affairs Office
(3) Luo Huining, director of the Central Government Liaison Office
(4) Carrie Lam, Chief Executive of Hong Kong
(5) Teresa Cheng, Secretary for Justice and principal legal advisor to Chief Executive
(6) Erick Tsang, Secretary for Constitutional and Mainland Affairs
(7) Zheng Yanxiong, head of the Office for Safeguarding National Security of the Central Government in Hong Kong
(8) Eric Chan, Secretary-General of the Committee for Safeguarding National Security of the HKSAR
(9) John Lee, Secretary for Security
(10) Chris Tang, Commissioner of Police
The State Department emphasized that the release of the report shows US' "ongoing objection to Beijing’s actions that are intentionally designed to erode the freedoms of the people of Hong Kong and impose the CCP’s oppressive policies".
Image: Apple Daily
Source: U.S. Department of State #Oct14
https://www.state.gov/identification-of-foreign-persons-involved-in-the-erosion-of-the-obligations-of-china-under-the-joint-declaration-or-the-basic-law/
#US #USSanction
United States Department of State
Identification of Foreign Persons Involved in the Erosion of the Obligations of China Under the Joint Declaration or the Basic…
Pursuant to Section 5(a) of the Hong Kong Autonomy Act (“HKAA” or “Act”) (P. L. 116-149), not later than 90 days after the date of the enactment of the HKAA, if the Secretary of State, in consultation with the Secretary of the Treasury, determines that a…
#Pentagon blacklists China chipmaker SMIC and oil producer CNOOC
The Department of Defense designated a total of four companies as being either owned or controlled by the People’s Liberation Army, including China’s largest chipmarker, SMIC and national offshore oil and gas producer, CNOOC. The total number of blacklisted firms is 35 after adding these 4 companies.
U.S. officials have long complained that Chinese companies are beholden to the People’s Republic of China and collect sensitive information on behalf of the People’s Liberation Army.
The U.S. Commerce Department informed some firms that a license is needed before supplying goods and services to SMIC which equipment could be used for military purpose. SMIC replies heavily on U.S. suppliers.
Source: CNBC #Dec03
https://www.cnbc.com/2020/12/03/pentagon-blacklists-china-chipmaker-smic-and-oil-producer-cnooc-.html
#USSanction #SMIC #CNOOC #China #PLA #CCP
The Department of Defense designated a total of four companies as being either owned or controlled by the People’s Liberation Army, including China’s largest chipmarker, SMIC and national offshore oil and gas producer, CNOOC. The total number of blacklisted firms is 35 after adding these 4 companies.
U.S. officials have long complained that Chinese companies are beholden to the People’s Republic of China and collect sensitive information on behalf of the People’s Liberation Army.
The U.S. Commerce Department informed some firms that a license is needed before supplying goods and services to SMIC which equipment could be used for military purpose. SMIC replies heavily on U.S. suppliers.
Source: CNBC #Dec03
https://www.cnbc.com/2020/12/03/pentagon-blacklists-china-chipmaker-smic-and-oil-producer-cnooc-.html
#USSanction #SMIC #CNOOC #China #PLA #CCP
FTSE Russell to drop eight Chinese firms after U.S. blacklisting
Index provider FTSE Russell said they would delete shares of video security firm Hikvision and seven other Chinese companies from certain products after a U.S. order restricting purchase of their shares.
A spokesman for owner London Stock Exchange Group FTSE Russell said it acted on feedback from index subscribers and other stakeholders, and was following its policy when sanctions are imposed that restrict investments. He added that deletions from its FTSE Global Equity Index Series and several others would take effect on Dec. 21.
“We would expect all index providers to ultimately remove some Chinese securities in an effort to comply with the U.S. restrictions,” Todd Rosenbluth, head of ETF and mutual fund research for CFRA, said via e-mail.
Source: Reuters #Dec05
https://mobile.reuters.com/article/amp/idUSKBN28F008
#FTSE #USSanction #Hikvision #China
Index provider FTSE Russell said they would delete shares of video security firm Hikvision and seven other Chinese companies from certain products after a U.S. order restricting purchase of their shares.
A spokesman for owner London Stock Exchange Group FTSE Russell said it acted on feedback from index subscribers and other stakeholders, and was following its policy when sanctions are imposed that restrict investments. He added that deletions from its FTSE Global Equity Index Series and several others would take effect on Dec. 21.
“We would expect all index providers to ultimately remove some Chinese securities in an effort to comply with the U.S. restrictions,” Todd Rosenbluth, head of ETF and mutual fund research for CFRA, said via e-mail.
Source: Reuters #Dec05
https://mobile.reuters.com/article/amp/idUSKBN28F008
#FTSE #USSanction #Hikvision #China
Covert Chinese Trade With North Korea Moves Into the Open
China is no longer trying to hide smuggling activity as it seeks to help Pyongyang endure sanctions, U.S. officials say
A satellite photos provided by the United Nations Security Council showed a Chinese-flagged barge being loaded coal at North Korea’s Nampo in June, and North Korean-flagged coal vessels near Ningbo-Zhoushan in China in August
“North Korea is not bothering with this anymore. The shipments are directly from North Korea to China,” the U.S. official said. “That is definitely a big change from what we saw initially after the adoption of sanctions ”
Assuming the coal sold for $80 to $100 a ton in 2020, the value of the North Korea exports would range between $330 million and $410 million. The revenue is particularly significant given North Korea’s decision to cut cross-border trade with China to try to insulate itself from the global pandemic.
North Korea has other forms of illicit revenue, U.S. and U.N. experts say. the U.S. alleged that China hosts at least 20,000 North Korean laborers, who send their earnings home.
Source: WSJ #Dec07
https://www.wsj.com/articles/covert-chinese-trade-with-north-korea-moves-into-the-open-11607345372?st=0vx98kq7kj4relh&reflink=article_copyURL_share
#NorthKorea #China #USSanction #Smuggling
China is no longer trying to hide smuggling activity as it seeks to help Pyongyang endure sanctions, U.S. officials say
A satellite photos provided by the United Nations Security Council showed a Chinese-flagged barge being loaded coal at North Korea’s Nampo in June, and North Korean-flagged coal vessels near Ningbo-Zhoushan in China in August
“North Korea is not bothering with this anymore. The shipments are directly from North Korea to China,” the U.S. official said. “That is definitely a big change from what we saw initially after the adoption of sanctions ”
Assuming the coal sold for $80 to $100 a ton in 2020, the value of the North Korea exports would range between $330 million and $410 million. The revenue is particularly significant given North Korea’s decision to cut cross-border trade with China to try to insulate itself from the global pandemic.
North Korea has other forms of illicit revenue, U.S. and U.N. experts say. the U.S. alleged that China hosts at least 20,000 North Korean laborers, who send their earnings home.
Source: WSJ #Dec07
https://www.wsj.com/articles/covert-chinese-trade-with-north-korea-moves-into-the-open-11607345372?st=0vx98kq7kj4relh&reflink=article_copyURL_share
#NorthKorea #China #USSanction #Smuggling
WSJ
Covert Chinese Trade With North Korea Moves Into the Open
China is increasingly flouting international sanctions on North Korea and is no longer trying to hide some of its smuggling activity as it seeks to help Pyongyang endure sanctions, U.S. officials say.
Former Hong Kong lawmaker urges U.S. to punish China's 'ATM': the banking sector
“There’s a stronger way to respond to China’s repression: Hong Kong financial system, which is one of the ATMs of China right now - if we can do something on this, it will be much more powerful,” a former Hong Kong lawmaker
Sixtus “Baggio” Leung said in Washington, after fleeing to seek asylum in the United States in November 2020.
He hopes to meet with advisers of President-elect Joe Biden to urge him to ramp up pressure on China, which tightened its grip over the former British colony with the imposition of new national security laws in June.
Leung suggested action should be taken to block Chinese banks from using SWIFT, a network used by banks globally to make financial transactions, and also target Hong Kong dollar’s peg to the U.S. currency “to try to force China to back to the negotiation table”.
Source: Reuters #Dec11
https://uk.reuters.com/article/hongkong-security-lawmaker/former-hong-kong-lawmaker-urges-u-s-to-punish-chinas-atm-the-banking-sector-idUKKBN28L1S3
#HongKongFinancial #ChinaATM #China #USSanction
“There’s a stronger way to respond to China’s repression: Hong Kong financial system, which is one of the ATMs of China right now - if we can do something on this, it will be much more powerful,” a former Hong Kong lawmaker
Sixtus “Baggio” Leung said in Washington, after fleeing to seek asylum in the United States in November 2020.
He hopes to meet with advisers of President-elect Joe Biden to urge him to ramp up pressure on China, which tightened its grip over the former British colony with the imposition of new national security laws in June.
Leung suggested action should be taken to block Chinese banks from using SWIFT, a network used by banks globally to make financial transactions, and also target Hong Kong dollar’s peg to the U.S. currency “to try to force China to back to the negotiation table”.
Source: Reuters #Dec11
https://uk.reuters.com/article/hongkong-security-lawmaker/former-hong-kong-lawmaker-urges-u-s-to-punish-chinas-atm-the-banking-sector-idUKKBN28L1S3
#HongKongFinancial #ChinaATM #China #USSanction
U.S.
Former Hong Kong lawmaker urges U.S. to punish China's 'ATM': the banking sector
The United States should target Hong Kong's financial sector with tougher sanctions to deprive China from its 'ATM' and to force Beijing to the negotiating table over its crackdown on the Asian financial hub, a former Hong Kong lawmaker told Reuters.
China Buys More Iranian and Venezuelan Oil, in a Test for Biden
China has sharply increased its imports of oil from Iran and Venezuela in a challenge to two Biden administration foreign-policy priorities, according to U.S. officials.
That trend is confirmed by other shipping trackers, some of which see those sales at 1 million barrels a day.
China is also increasingly flouting international sanctions on North Korea and is no longer trying to hide some of its smuggling activity as it seeks to help Pyongyang, U.S. officials said recently.
“The informal Chinese purchases have reduced the need to negotiate on oil sanctions” for Tehran, one Iran-focused U.S. official said.
Source: WJS #Mar19
https://www.wsj.com/articles/china-buys-more-iranian-and-venezuelan-oil-in-a-test-for-biden-11616146203
#IranianOil #ChinaIran #VenezuelanOil #USSanction
China has sharply increased its imports of oil from Iran and Venezuela in a challenge to two Biden administration foreign-policy priorities, according to U.S. officials.
That trend is confirmed by other shipping trackers, some of which see those sales at 1 million barrels a day.
China is also increasingly flouting international sanctions on North Korea and is no longer trying to hide some of its smuggling activity as it seeks to help Pyongyang, U.S. officials said recently.
“The informal Chinese purchases have reduced the need to negotiate on oil sanctions” for Tehran, one Iran-focused U.S. official said.
Source: WJS #Mar19
https://www.wsj.com/articles/china-buys-more-iranian-and-venezuelan-oil-in-a-test-for-biden-11616146203
#IranianOil #ChinaIran #VenezuelanOil #USSanction