Tencent Corporation contests the U.S. government’s classification as a military-affiliated Chinese enterprise.
As a gamer, I’ve just learned that the U.S. Department of Defense has expanded its list of tech companies from China that collaborate with their military. This list, first introduced about a year ago, now includes CATL, one of the biggest battery manufacturers globally, joining the likes of Tencent. (Source: BBC / CNN)
The USA is exploring a method to counter China’s “civil-military fusion” tactic, which aims to enhance military capabilities by leveraging technologies developed in businesses, universities, and research institutions that seem civilian in nature. At present, more than 130 companies are on this list.
Tencent, along with others who hold ownership rights over Whatsapp, swiftly voiced disapproval following the Pentagon’s perceived error. Consequently, shares of both the company and CATL experienced a decline once news of the U.S. government’s announcement became public knowledge.
Tencent emphasized that it is neither a defense firm nor a provider, and being on such a list won’t impact its day-to-day activities. Similarly, CATL stated they are not military entities, and both companies have teamed up with the Department of Defense to dispel this “misconception.
Our organization isn’t involved in the military sector as a company or supplier. Contrary to sanctions or export restrictions, this listing doesn’t affect our operations. However, we are committed to clarifying any potential misconceptions with the Department of Defense.
In theory, listing on a stock exchange doesn’t lead to any penalties. However, U.S. corporations might be cautious about continuing collaborations with these defense-related companies due to concerns over potential harm to their reputation.
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2025-01-08 13:32