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Exclusive: Trump administration to think about including China’s Ant Group to trade blacklist – sources


SUBMIT PICTURE: A worker stands beside the logo design of Ant Financial Provider Group, Alibaba’s monetary affiliate, at its head office in Hangzhou, Zhejiang province, China January 24, 2018.REUTERS/Shu Zhang/File Picture

October 14, 2020

By Humeyra Pamuk, Alexandra Alper, Karen Freifeld and David Shepardson

WASHINGTON (Reuters) – The U.S. State Department has actually sent a proposition for the Trump administration to include China’s Ant Group to a trade blacklist, according to 2 individuals acquainted with the matter, prior to the fintech arm of e-commerce huge Alibaba <9988.HK> is slated to go public.

It was not instantly clear when the U.S. federal government firms that choose whether to include a business to the so-called Entity List would examine the matter. However the relocation comes as China hardliners in the Trump administration are looking for to send out a message to discourage U.S. financiers from participating in the going public, worth approximately a record $35 billion. They fear purchasing shares in the business might expose them to scams or that Ant might provide the Chinese federal government access to delicate banking information coming from U.S. people.

State Department did not instantly react to an ask for remark.

The entity list, that makes it harder for U.S. companies to offer state-of-the-art products to blacklisted business, has actually ended up being the tool of option for the Trump administration to penalize Chinese business, though its real-world effect is often doubtful.

While suppressing access to U.S. innovation deals a blow to business like Chinese telecoms huge Huawei Technologies [HWT.UL], which was included Might 2019, its influence on a fintech giant like Ant Group is most likely to be more symbolic.

(Reporting by Humeyra Pamuk, Alexandra Alper, Karen Freifeld and David Shepardson; Composing by Alexandra Alper; Modifying by Chris Sanders and Lisa Shumaker)

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Hmm. yes i understand the
question, you know it's been at least
15 years since I've been following the news, no 10 my folks do that, hmm. what was the question again !?
Excuse me! But can you remember
where you read about this ?
Are you kidding !?
of course I can, it was on
the website u.s.news.com
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