The US designates Tencent as a Chinese military company, adding the tech giant to the blacklist

the Pentagon The Department of Defense (DOD) has added Chinese technology giant Tencent Holdings, Ltd. To a “blacklist” of companies that allegedly aid the Chinese military.

The Department of Defense on Monday released its annual updated list of companies operating in the United States that are considered “Chinese military companies,” a requirement under Section 1260H of the Mac Thornberry National Defense Authorization Act (NDAA) for fiscal year 2021. Tencent was a new addition to the list.

The list is a warning to American companies not to work with them Chinese companiesThere are now 134 companies on the list. While the designation does not mean an immediate ban on companies, it could be a blow to their reputation.

A hacker affiliated with the Chinese Communist Party breaks into the Treasury Department’s system in a “major incident”

Shares of Tencent, its Chinese parent, are listed in Hong Kong Instant messaging application WeChat stock fell 7.3% on Tuesday, losing about HK$275 billion ($35.4 billion) in market value.

Tencent called for the Defense Department’s action, which comes two weeks ago President-elect Trump He takes office, “wrong.”

China directs the largest military buildup since the 1930s against Nazi Germany, according to expert warnings, citing a Pentagon report.

The company said on Tuesday that its business would not be affected, and that it would begin a reconsideration process to correct its listing and, if necessary, take legal action.

Get FOX Business on the go by clicking here

Liz Frieden of Reuters and Fox News contributed to this report.