Reported about 1 year ago
On July 5, 2024, the US Department of Commerce's Bureau of Industry and Security (BIS) issued new regulations, removing eight entities from the Unverified List under the Export Administration Regulations (EAR). Among the delisted entities were one from the United Arab Emirates, one from Russia, and six from mainland China, including two subsidiaries of Foxconn Group: Tianjin Fuchun Precision Electronics and Nanning Fuguigui Precision Industries. The removed entities, now off the Unverified List, involved mainland Chinese companies, including Guangzhou Xinyi Electronics Technology, Guangzhou Xinyun Smart Technology, Shenzhen Jialichuang Technology Group, and Xi'an Yierda Technology. Foxconn declined to comment, and this marked the first time Foxconn was involved in US trade observation/control lists. The Unverified List serves as a tool for the US to prevent sensitive goods and technology from falling into undesired hands.
Source: YAHOO