Chinese genetics firm BGI said it opposed a move by the US to slap export restrictions on some of its units and will keep active communications with the parties involved to ensure a fair and just treatment, state-owned tabloid Global Times reported.
(Bloomberg) — Chinese genetics firm BGI said it opposed a move by the US to slap export restrictions on some of its units and will keep active communications with the parties involved to ensure a fair and just treatment, state-owned tabloid Global Times reported.
BGI said it has strictly followed international commercial practices and laws to run businesses legally globally, the report said, citing a company response. Calls to BGI on Sunday for a comment went unanswered.
The Biden administration last week announced export restrictions for dozens of Chinese entities, including some BGI units and server maker Inspur Group, citing activities contrary to US national security and foreign policy interest.
US Expands Crackdown on China With Export Ban on Inspur, BGI
The move has drawn an angry response from China, with the Ministry of Commerce urging the US to stop “unreasonable suppression” of Chinese firms. The US measure is an act of economic bullying and market distortion, the ministry said.
Inspur, a state-affiliated maker of computer servers that’s benefited from data center construction nationwide, as well as Beijing-based CPU maker Loongson, are two of the notable China additions to the US’s so-called Entity List.
In Blacklisting Inspur, US Targets Partner Used by Intel and IBM
Inspur and Loongson are considered integral to authorities’ effort to replace foreign-made technology and propel domestic innovation.
–With assistance from Luz Ding.
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