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Friday, 4 December 2020

The United States will take action against two Chinese companies


The U.S. Department of Defense has named two Chinese companies as its targets for the Chinese military.

SMIC, one of China's largest manufacturers, is on the list now, followed by state-owned oil company CNOOC.

Companies will now be barred from accessing certain US products that support their operations.

President Trump has extended a law banning US investors from buying shares in Chinese companies, which his administration has targeted.

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