Saturday, 2024 February 24

CHINA BRIEF | Cybersecurity firm Qihoo 360 added to US Entity List

The US has added Beijing-based Qihoo 360 (SHH: 601360), a cybersecurity software firm, onto its Entity List, citing national security and foreign policy interests, according to an announcement from Department of Commerce’s Bureau of Industry and Security on Friday.

Qihoo 360 Technology Co. Ltd and Qihoo 360 Technology Company are among 33 entities newly added to the blacklist on May 22, which will prohibit the export, re-export, or in-country transfer of US-made technology to them.

In March, Qihoo 360 accused the CIA of conducting an 11-year campaign of cyberespionage targeting Chinese aviation organizations, scientific research institutions, and government agencies, among others.

Qihoo, which was delisted from the New York Stock Exchange in 2016 and went public in China in 2017 via a backdoor listing, denounced the move by the Department of Commerce as a politicization of business and technological research, according to a report of Chinese media outlet Beijing Business Today on Monday.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.
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