Foreign Investment: US Treasury adds eight Chinese Tech Firms to its Investment Blacklist

On 16 December 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) identified eight Chinese technology firms that actively support the biometric surveillance and tracking of ethnic and religious minorities in China. The new additions to its investment blacklist are

• Cloudwalk Technology Co., Ltd.;

• Dawning Information Industry Co., Ltd.;

• Leon Technology Company Limited; Megvii Technology Limited;

• Netposa Technologies Limited;

• SZ DJI Technology Co., Ltd.;

• Xiamen Meiya Pico Information Co., Ltd.; and

• Yitu Limited.

Now U.S. persons are prohibited from purchasing or selling certain publicly traded securities connected with these entities.

Source: U.S. Department of the Treasury