Drone maker DJI is among the eight Chinese companies that have been designated by the United States in an investment blocklist right when the year is about to end. The blocklist means that no U.S. citizen will be able to make investments in the companies legally, and its status in the market now will be closed for any advancements to its business.
DJI, Other Chinese Companies Face U.S. Investment Blocklist
A report by the Financial Times has detailed that the famous drone company DJI, along with seven more Chinese companies, are now added to the U.S. Investment Blocklist. DJI was allegedly involved in the surveillance of the Uyghur Muslims, which the country would not condone, hence the blocklist.
Moreover, the country is only protecting its best interests, especially in associating its citizens and investors from joining forces with companies involved in these kinds of alleged dealings. According to Engadget, DJI is known for being in the Department of Commerce's Entity List, and the U.S. cannot sell its components to the famed drone maker.
Why are DJI and Others Put on U.S. Investment Blocklist
It is a shame that DJI and these other Chinese companies were put on the U.S. investment blocklist, but that is the price to pay for their previous dealings and past that compromises their integrity. Presently, there is no news regarding these companies fighting out the decision of the company to put them under the said blocklist, but it is open for a court hearing.
NEW YORK, NY - AUGUST 23: A new DJI Mavic Pro 2 drone flies during a product launch event at the Brooklyn Navy Yard, August 23, 2018 in New York City. DJI announced the release of two new drones, the Mavic 2 Pro and the Mavic 2 Zoom, which includes a 2x optical zoom lens. On sale starting today, the Mavic 2 Pro, featuring a Hasselblad lens, will retail for $1,449 and the Mavic 2 Zoom will retail at $1,249.
Other Chinese Companies in U.S. List
Last month, there were a lot of events that focused on the U.S. Trade Blocklist to add more companies to its list and potentially bar any advancements to business it has with the country. A total of 27 companies were put on the said blocklist, and 12 of those are Chinese companies that have operated in the country for quite some time already.
Another company has also seen a massive change and loss on its investments, particularly with SenseTime, which has lost $767 million worth of its Hong Kong IPO. The U.S.'s investment blocklist is a massive name in the business industry, and it too can have a significant effect on one's business as it can make or break them.
Xiaomi was once put on this blocklist, but the company has fought it out on the court to reverse or lift the ban imposed upon the company. DJI is a known drone manufacturer, and it is best remembered as the Chinese company with quality devices for all adventure camera needs.
However, it may soon be forgotten if the country would not lift this ban.
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Written by Isaiah Richard
