Business · Companies · 4 hrs ago

Pentagon removes WuXi AppTec from Chinese military companies list

Pentagon removes WuXi AppTec from Chinese military companies list

The Pentagon removed WuXi AppTec from its Chinese military companies list on Tuesday.

WuXi AppTec is a Chinese biotech services company, and the decision was made by the US deputy secretary of defence.

The listing had linked the company to the Chinese military.

After the removal, WuXi AppTec shares rose in Hong Kong and Shanghai.

Its Hong Kong shares gained more than 6% at the open, then pared that rise to about 2% in early trading, while its Shanghai shares rose about 1.8%.

The decision is a win for WuXi AppTec and has raised hopes among other mainland Chinese firms challenging US blacklists.

1 source

Related

What people are saying

US deputy secretary of defenceUS defence official
Chinese military companies
via SCMP