U.S. Adds 31 Chinese Companies To Unverified Export Control List

The U.S. Department of Commerce announced on Friday that it has added 31 Chinese companies on an “unverified” export control list.
The list includes companies such as memory chip maker Yangtze Memory Technologies Co., Ltd (YMTC). and the Wuhan Institute of Biological Products Co., Ltd.

The U.S. is tightening export controls to limit the Communist China’s ability to get advanced chips for developing supercomputers and making advanced semiconductors. 

According to the Department of Commerce, the reason for this is because U.S. officials could not conduct on-site inspections to verify if they can be trusted to responsibly handle sensitive technology exports from the United States.

U.S. exporters must conduct additional due diligence before sending goods to companies on the “Unverified List (UVL) ” and may have to apply for more licenses.

The U.S. is tightening export controls to limit the Communist China’s ability to get advanced chips for developing supercomputers and making advanced semiconductors.

The department said the Communist China could use the chips to build advanced military systems, and the updated policy could help the U.S. meet challenges from China.