US designates more Chinese tech companies as offshoots of military, may impose more sanctions

News Snapshot:

The Pentagon designated over a dozen Chinese tech companies, including Yangtze Memory Technologies Corp (YMTC), as “military companies,” citing national security concerns for the United States. Among these entities are artificial intelligence firms Yitu Technology and Beijing Megvii, drone manufacturer Chengdu JOUAV, lidar maker Hesai Technology, and tech company NetPosa, all of which operate in the US but haveen been accused of having ties to the Chinese military. These additions to the 1260H list, established under the National Defence Authorisation Act for fiscal year 2021, inform US and international companies about entities potentially supporting Beijing’s military-industrial complex. While being listed...