Baidu says no reason for addition to Pentagon's Chinese military companies list

Baidu Inc. (NASDAQ: BIDU and HKEX: 9888) said it was included on the U.S. Department of Defense's list of Chinese Military Companies following a notice published by the department.

The internet firm company stated it believes there is no justification for its inclusion on the list, as it is neither a Chinese military company nor a military-civil fusion contributor to the Chinese defense industrial base.

Baidu noted that the CMC List is not a sanctions list and that U.S. government procurement limitations tied to the list will not impact its business operations. The company also stated that the list does not restrict trading in its securities.

The inclusion was announced through a Department of Defense notice titled "Designation of Chinese Military Companies," with the Deputy Secretary of Defense making the determination to add Baidu to the list.

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