US adds Tencent, CATL to list of Chinese firms allegedly aiding Beijing's military

Recent developments indicate that Chinese tech giants Tencent Holdings and CATL have been added to a list of companies by the US Pentagon, suggesting they work with China's military. This designation comes as part of Washington's efforts to counter Beijing's military-civil fusion. The inclusion of these companies has led to a significant drop in their market value, with Tencent shares falling 7.3% and CATL shares declining 2.8%. The impact of this designation on the business operations of these companies remains unclear, although Tencent has stated that its business will not be affected. The Pentagon's move is part of a broader effort to restrict the influence of Chinese companies in the US market.