This has caused some panic among Tencent investors.
The company’s stock price in Hong Kong dropped 7 per cent following the U.S. government’s announcement.
Unlike sanctions or export controls, this listing has no impact on our business.
We will nonetheless work with the Department of Defense to address any misunderstanding."
CATL has also told the press that its inclusion is a “mistake.”
According to the Pentagon, these companies further Chinese military interests through Military Civil Fusion.
These new inclusions come amidst increasing economic tensions between the world’s two superpowers.
Tencent is a major investor in the gaming industry.
The corporation wholly owns Riot Games, developer of League of Legends and creator of Arcane.
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