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China Daily / 2020-10 / 17 / Page007

US may add Ant Group to trade blacklist

By LIA ZHU in San Francisco | CHINA DAILY | Updated: 2020-10-17 00:00

Beijing slams abusing concept of national security to oppress foreign companies

China's Ant Group has become the latest target of the administration of US President Donald Trump as it considers a potential blacklisting of the Chinese fintech giant, but financial experts said the move is largely symbolic.

The US State Department has submitted a proposal to add Ant Group to the "entity list", according to a Reuters report citing two people familiar with the matter.

The list is a trade blacklist that restricts US companies from exporting certain technologies and products to those individuals or companies.

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