The Department of Defense (DoD) has added nine more companies to its list of entities with ties to the Chinese military in compliance with Section 1237 of the fiscal year 1999 National Defense Authorization Act (NDAA).
DoD said Thursday that the move is part of its efforts to counter China’s military-civil fusion strategy that seeks to gain access to technologies developed by companies, research institutes and universities to meet its military’s modernization objectives.
Reuters reported the listed companies will be subject to an investment ban that directs U.S. investors to divest their stakes in blacklisted entities by Nov. 11th.
The Pentagon released and submitted to Congress the initial list of entities linked to the Chinese military in June 2020. Click here to view the new list of companies.