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Tencent Listed as Military-Linked Company, Causing Share Drop

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Tencent,China,Military-Linked Companies

Chinese tech giant Tencent has been added to a U.S. government list of military-linked companies, prompting investor concerns and a significant decline in its Hong Kong-listed shares. Although the Pentagon's designation doesn't impose immediate sanctions, it functions as a blacklist, potentially hindering international operations. Tencent denies being a military company or supplier, stating the listing has no impact on its business.

BEIJING, CHINA - MARCH 03: 'Pony' Ma, Chairman and Chief Executive Officer of Tencent Holdings Ltd., speaks at a news conference in 2016 in Beijing.Chinese web giant Tencent was added to a U.S. government list of military-linked companies, spooking investors and triggering as much as a 7% plunge in its Hong Kong-listed shares.

The Pentagon publishes annually a list of “Chinese military companies” that it says operate directly or indirectly in the U.S. Although that designation—which according to American officials means they contribute to China’s military advancement—triggers no specific sanctions by the Pentagon, it functions as a blacklist and can hurt those companies’ international operations as potential partners assess new risks.

, who has a fortune of $35.9 billion that is largely based on a company stake, according to Forbes estimates, the company has been working with Ford since 2023 to build a battery factory in Michigan. It initially planned to invest $3.5 billion, although that amount

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