"Pentagon blacklists China chipmaker SMIC and oil producer CNOOC"

" \n China\u2019s largest chipmaker and national offshore oil and gas producer were added Thursday to a blacklist of alleged Chinese military companies, the Pentagon said in an evening statement. \n \n\n \n The Department of Defense designated a total of four companies as being either owned or controlled by the People\u2019s Liberation Army. \n \n\n \n Semiconductor Manufacturing International Corp. \n \n\n \n China National Offshore Oil Corp. \n \n\n \n China Construction Technology Co. Ltd. \n \n\n \n China International Engineering Consulting Corp. \n \n\n \n The additional four companies added Thursday brings the total number of blacklisted firms to 35. \n \n\n \n U.S. officials have long complained that Chinese companies are beholden to the People\u2019s Republic of China and collect sensitive information on behalf of the People\u2019s Liberation\u00a0Army. \n \n\n \n The Chinese Communist Party has previously said that it does not engage in industrial espionage.\u00a0 \n \n\n \n The Chinese Embassy in Washington did not immediately respond to CNBC\u2019s request for comment. \n \n\n \n The move will likely escalate tensions between the world\u2019s two largest economies and adds to the list of pressing geopolitical issues awaiting President-elect Joe Biden. \n \n\n \n In September, the Pentagon said it was holding discussions over\u00a0 whether\u00a0SMIC should be added to the Commerce Department\u2019s entity list , which essentially restricts those companies from receiving specific goods made in the United States. \n \n\n \n That same month, the U.S. Commerce Department informed some firms they needed to obtain a license before supplying goods and services to\u00a0SMIC\u00a0after concluding there was an \u201cunacceptable risk\u201d that equipment supplied to it could be used for military purposes. SMIC relies heavily on U.S. suppliers. \n \n\n \n SMIC is viewed as a major player in China\u2019s\u00a0 effort to boost its domestic semiconductor industry , an ambition that was accelerated by the U.S.-China trade war. \n \n\n \n Imposing export controls on SMIC would impact U.S. companies that sell chip-making technology to China manufacturers.\u00a0 \n "

"Pentagon blacklists China chipmaker SMIC and oil producer CNOOC"

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