A bill to impose sanctions on Chinese companies has been introduced in the US House of Representatives. It was authored by a Republican and a Democrat.
Points of attention
- A bipartisan bill has been introduced in the US House of Representatives to impose sanctions on Chinese companies providing material support for Russia's aggression against Ukraine.
- The bill targets tech giants like Huawei, DJI, Hikvision, SMIC, and AVIC, leaders in their respective fields.
- The proposed sanctions could involve restrictions on entities involved in defense-industrial sectors, military modernization, and arms sales abroad.
Chinese tech giants could face US sanctions
This was reported by the Ambassador of Ukraine to the United States, Oksana Markarova.
According to her, the bill was introduced to the House of Representatives by John Moolenaar (Republican), chairman of the US House of Representatives Select Committee on Countering the CCP, and Jimmy Panetta (Democrat), a member of the House Committees on Tax Policy and Budget.
The ambassador said that the bill proposes to impose sanctions against Chinese companies that provide material support for Russia's aggression against Ukraine. This concerns dual-use technologies, defense cooperation, and financial transactions.
The document provides that the US president will receive the authority to:
impose sanctions against Chinese entities that provide material support to Russia's defense-industrial base and technology sector;
impose sanctions against PRC organizations involved in military modernization or malicious cyber activities;
impose sanctions against Chinese organizations involved in arms sales abroad.
In particular, the following may be subject to sanctions:
Huawei Technologies Co. Ltd is a global giant in the field of telecommunications and smartphones.
DJI (Shenzhen DJI Innovation Technology Co. Ltd) is a world leader in the production of drones.
Hikvision (Hangzhou Hikvision Digital Technology Co. Ltd) is the largest manufacturer of video surveillance systems.
SMIC (Semiconductor Manufacturing International Corporation) is a leading Chinese chip manufacturer.
AVIC (Aviation Industry Corporation of China Ltd) is China's main aircraft manufacturing corporation, a key player in the defense industry.
The bill also provides that within 180 days after it enters into force, the US Secretary of State, Secretary of the Treasury, and Secretary of Defense must propose to Congress to impose sanctions against Chinese defense, shipbuilding, and aircraft manufacturing companies.
