Baidu Says 'Chinese Military Companies' Designation Will Not Impact Business

MT Newswires Live

06/09

Baidu (BIDU) said Tuesday its inclusion to the US Department of Defense's list of "Chinese Military Companies" will not affect its business.

The company said it is neither a Chinese military company nor a contributor to China's defense industrial base.

Baidu also said the list is not a sanctions list and does not restrict trading in its securities.

The company added that government procurement limitations tied to the designation will not affect its business.

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