Chinese companies ‘shocked’ over Trump blacklisting

By Around the Web

(ZEROHEDGE) – After on Thursday the Trump administration added China’s top chipmaker, SMIC, as well as oil giant CNOOC to its rapidly growing blacklist of Chinese companies with deep ties to the PLA military (which is now being added to on a weekly bases), Beijing has blasted this and other proposed moves on the table like delisting Chinese companies from US stock exchanges as “clearly discriminatory”.

“The U.S. should stop abusing national power and national security concepts to suppress foreign companies,” Foreign Ministry spokesperson Hua Chunying said Friday.

Shanghai-based SMIC says it firmly rejects the decision and allegations, calling it a “fundamental misunderstanding by the US administration of the end-uses of its business and technology” according to Reuters.

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