28 Chinese Companies Placed on New US Entity Blacklist
28 Chinese companies were recently placed on a new entity blacklist created by the US, blocking these companies from buying American products.
Two of the most prominent companies included in the list are Hikvision and Dahua Technology, who are two of the global leaders in video surveillance technology. In addition to these firms, other companies focused on artificial intelligence and computer vision have been targeted, harming China’s robust competitive advantage in exporting video surveillance technology. This includes well known companies like iFLYTEK, SenseTime, and Megvii (commonly known as Face++). These firms have been widely hailed has up and coming stars of the artificial intelligence era, attracting significant support from the global venture capital community.
The effect of the blacklisting will vary among companies, but it is likely to have a minimal short-term impact as the firms will have stockpiled vital American components. Hikvision said in a statement that it vehemently opposed the decision to include the company on the blacklist and has been trying to ease the administration’s concerns for the past year. The punishment will “hurt Hikvision’s U.S. business partners and negatively impact the U.S. economy,” the company said.
SEE ALSO: China’s Foreign Ministry Responded to U.S.’ Potential Ban on Hikvision
This will also likely hamper the existing collaborations between some of these Chinese artificial intelligence companies and American universities and research institutions. It is also likely to inhibit the successful recruitment of foreign talent to these firms.