US Continues To Pressure Chinese Companies

US Continues To Pressure Chinese Companies US continues to pressure Chinese companies. The US Department of Defense has added 4 more Chinese companies to the black list. In the US, the Donald Trump administration continues its repressive attitude towards China before it handed over the White House. US, which previously blacklisted many Chinese companies, has now added four more to these companies. Chinese chip maker SMIC, oil company CNOOC, China Construction Technology Co. Ltd. and China International Engineering Consulting Corp. are included on the black list by US Department of Defense. Following this decision, sharp decreases were observed in the shares of companies traded on the Hong Kong stock exchange. The list of companies with links to the Chinese military was a practice the Trump administration launched with 31 companies in early 2020. The first list included companies were Huawei, Hangzhou Hikvision Digital Technology Co. Another news was the import ban imposed on the cotton products company in Xinjiang. The US banned the importation of cotton products from the Xinjiang Production and Construction Company (XPCC) on the grounds that production was made by forced labor, including the employment of prisoners. On the other hand, the decision that the United States will shorten the visa periods of the Chinese Communist Party members and their families was also included in the news bulletins.       In this article has been contributed by Bloomberg HT.