13 Jan US shelves plans for investment ban on Alibaba, Tencent and Baidu, say insiders
Posted at 19:30h
in Asia
The Trump administration has scrapped plans to blacklist Chinese tech giants Alibaba, Tencent and Baidu, four people familiar with the matter said, providing a momentary reprieve to Beijing’s top companies amid a broader crackdown by Washington.Senior officials in the administration had been considering plans to add the firms to a list of alleged Chinese military companies, which would have subjected them to a new US investment ban.But according to the people, who declined to be named so they…