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CloudTech laments as the U.S. adds it and 32 other Chinese companies to the entity list

This morning, the U.S. Department of Commerce announced another big news with respect to Chinese companies. According to the latest announcement, another 33 Chinese companies and institutions have been included in the “list of entities”. The companies include Cloud Technology (CloudTech), Beijing Computer Science Research Center, Qihoo 360, Jiehui Chuang (HK) Technology Co. and others

In response, CloudTech said that it regrets the resolution but there are preparations and alternatives. CloudTech said it will conduct business activities based on strict compliance with the laws and regulations of relevant countries and regions. It aims to promote the healthy development of artificial intelligence technology by formulating and implementing strict ethical standards for the use of artificial intelligence technology. It also provides services to customers based on the company’s self-developed technology and products that have independent intellectual property rights.

“We are confident that the company’s operations will continue to grow healthily and protect the interests of the company’s customers, partners, employees, and investors.”

It appears that for the U.S. all Chinese companies pose a security risk. With the way the U.S. is going, it will not be long before it bans ALL Chinese companies. However, will China’s technological advancement collapse without the US? I leave that question for you to answer. Nevertheless, it appears that the U.S. is just teaching China how to be self-sufficient. China’s technology is developing at a high speed. The country has the numbers (technicians), it has the labour force and it has the market. It will be interesting t see how all these will end.

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CloudTech statement regarding its inclusion in the US list of entities

We have been following the documents of the U.S. Department of Commerce and related reports in the Chinese and international media, and we will continue to pay attention to them.

Artificial intelligence is the foundation for the future operation of business society and can benefit human beings in many social issues, such as environmental issues, rural issues, health issues, education equity issues, etc.

As a Chinese artificial intelligence company, Cloud Technology adheres to the mission of “defining intelligent life and enhancing human potential”. It also insists on the two-wheel-drive of market and technology to combine advanced technology and industrial applications. We hope to contribute to society and change the world with AI. This will enhance human potential and improve productivity…

CloudTech has always maintained a good relationship with China and other national ecological partners to provide better services to users, and CloudTech will maintain active communication with all parties to ensure fair and just treatment. We are confident that the company’s operations will continue to grow healthily and protect the interests of the company’s customers, partners, employees and investors.

We regret the resolution and have prepared for the situation accordingly.

Via: Source