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A man stands outside the China National Offshore Oil Corporation (CNOOC) headquarters building in Beijing in 2016.
AFP / Getty Images
The Trump administration is poised to add China’s largest chip maker, SMIC, and oil giant CNOOC to its export blacklist, claiming they are owned or controlled by the Chinese military, Reuters reported on Sunday.
It was not clear exactly when the new designations would take effect. China Construction Technology Co. Ltd. and China International Engineering Consulting Corp. will also reportedly be added to the list. The designation would make it much more difficult for US companies to export technology to the four Chinese companies. Huawei Technologies Co. was added to the list in May.
Semiconductor Manufacturing International Corp. is China’s most advanced semiconductor manufacturer, and China National Offshore Oil Corp. is one of the largest Chinese energy companies.
CNOOC shares 883,
plunged more than 7% in trading on Monday in Hong Kong, while SMIC 981,
it fell by about 1%. Last year SMIC withdrew its share price in the United States, while the CEO of CNOOC’s American depository receipts,
they have fallen by 27% since the beginning of the year.
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