Bloomberg reported earlier that the Trump administration may blacklist Hikvision and several others because of concern about their role in a crackdown on ethnic Muslim Uighurs in China's Xinjiang region. The U.S. has already restricted technology exports to Chinese telecom equipment giant Huawei because of concern that it poses a cybersecurity risk. Hikvision said in its statement that it "takes cybersecurity very seriously." The Finance Ministry's announcement Wednesday comes amid tension over Washington's decision to restrict technology exports to Chinese telecom equipment giant Huawei and other companies. Chinese makers of smartphones and other products rely on U.S. components but Beijing is spending heavily to develop its own suppliers.

Source: ABC News May 22, 2019 11:13 UTC