From Investing.com:

The top U.S. House China committee members urge the Biden administration to consider adding Quectel Wireless to a list of Chinese military companies. If added, U.S. entities would be barred from buying or selling securities in target companies, due to security concerns about potential remote access and control from China.

Quectel is the world’s largest supplier of cellular “internet of things” modules and is gaining market share in the U.S., raising security concerns about its potential contribution to the defense industrial base of China. President Biden’s executive order in June 2021 banned U.S. entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors.

Major Chinese companies, including Aviation Industry Corp of China, China Mobile Communications Group, and Huawei Technologies, were previously placed on the Defense Department list and updated in 2021. In September, the FCC Chairwoman urged government agencies to consider declaring that Quectel and Fibocom Wireless pose unacceptable national security risks.



Read more: Lawmakers ask Pentagon to consider barring US investments in China’s Quectel By Reuters