The US government’s move to add Tencent Holdings, China’s most valuable company, to its list of Chinese military firms has raised concerns about further bifurcation in the technology spheres of the world’s two largest economies.
Tencent, operator of super-app WeChat and the world’s biggest video gaming business by revenue, is among five new companies that Washington believes pose a threat to US national security, according to a document on the Federal Register published on Tuesday.
The Shenzhen-based social media giant said its inclusion on the Pentagon’s list was “clearly a mistake”, as the company is “not a military company or supplier”.
“Unlike sanctions or export controls, this listing has no impact on our business,” Tencent said in a statement on Tuesday. “We will nonetheless work with the Department of Defence to address any misunderstanding.”
The latest US move shook investor confidence in some of China’s biggest private tech companies ahead of the inauguration of president-elect Donald Trump this month.
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