• Reuters

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The Trump administration is poised to add China’s top chipmaker Semiconductor Manufacturing International Corp. (SMIC) and oil and gas producer China National Offshore Oil Corp. (CNOOC) to a blacklist of alleged Chinese military companies, according to a document and sources, curbing their access to U.S. investors and escalating tensions with Beijing weeks before U.S. President-elect Joe Biden takes office.

Reuters reported earlier this month that the Department of Defense (DOD) was planning to designate four more Chinese companies as owned or controlled by the Chinese military, bringing the number of Chinese companies affected to 35. A recent executive order issued by U.S. President Donald Trump would prevent U.S. investors from buying securities of the listed firms starting late next year.

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