The Chinese military-industrial complex companies will be added to the US Treasury's blacklist on Thursday.
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According to the Financial Times, the US is adding eight Chinese companies to its investment blocklist because of their alleged involvement in the Uyghur Muslims.
According to a report by the Financial Times, the US Treasury has added a Chinese military-industrial complex company to its list.
The move bars US investors from taking a financial stake in the eight companies.
Beijing has been criticized by the administration of President Joe Biden over its human rights record. The country was accused of genocide in its treatment of the Uyghur Muslim minority in the western region of Xinjiang.
Insider's ine Cain reported that activists and researchers have accused China of widespread abuse of the Uyghur people.
Beijing has been accused of carrying out a campaign of ethnic cleansing. The Chinese government denied the accusations.
The US, UK, Australia, and Canada have decided to boycott the Beijing Winter Olympics next year because of China's poor human rights record.
SenseTime said this week that it was postponing its initial public offering in Hong Kong due to reports that the Chinese company was being put on the US investment blacklist. Insider didn't get a response from SenseTime or DJI.
Megvii, a facial-recognition startup, and Dawning Information Industry, a provider of supercomputer-based cloud-computing services, are among those joining the list.
Cloud-computing provider Leon Technology is one of the new additions.
Megvii and DJI are unlisted. Leon, NetPosa, and Meiya Pico are listed in Shenzhen.
More than two dozen Chinese companies are set to be placed on the "entity list" by the US Commerce Department, according to the FT. US companies are not allowed to export to those named.
The Hang Seng healthcare index fell at the market close.
The Biden administration will review its rules on US companies selling tech to SMIC. A flaw made it possible for some companies to exploit a provision under the decision to place SMIC in the entity list.
Phil Toews says the Federal Reserve won't rescue the stock market when it goes down. He says investors should get ready.
Business Insider has an original article.
