Alibaba, Tencent, Baidu are off US ban list-report

Wednesday, 13. January 2021 21:19

United States government is expected to take three Chinese companies, Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Baidu Inc., off of the list of firms suspected to be supporting China’s military and security policy, - reported Wall Street Journal

The decision arrived after a week-long dispute among the US Treasury and State Department and Pentagon, where two sides were weighing the military threat against potential economic losses, caused by the Chinese companies in question.

The three aforementioned companies were a part of a longer list of twelve banned firms. The decision on nine remaining entities, along with over 100 subsidiaries, will be released soon and submitted to Congress.

Related Links: Baidu Inc.Alibaba Group Holding Ltd.
Baha Breaking the News (BBN) / LH