The Pentagon on Monday labeled Tencent, the Chinese social media and gaming giant, as a Chinese military business operating in the United States, the latest action in an escalating series of retaliatory moves between the world’s two superpowers. Tencent’s shares in the United States plunged by nearly 10 percent after the decision by the Defense Department, which also targeted Chinese battery, drone and shipping companies. The Defense Department updates annually a list of what it designates as “Chinese military companies”, entities it has identified as having both military and commercial technology. There are now 134 companies on the list, which was posted to the Federal Register. It also added Contemporary Amperex Technology Company, known as CATL, as well as China Overseas Shipping, known as COSCO; the chipmaker Changxin Memory Technologies; and the drone maker Autel Robotics.
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