U.S. blacklists drone maker DJI, surveillance tech company Dahua, and BGI Genomics

Dear reader,

Today’s big news is that the U.S. Defense Department has added to its list of Chinese companies in which Americans are banned from investing because of their links, or suspected links, to the Chinese military.

New entrants to the blacklist include:

• DJI — maker of the world’s most popular consumer drones.
• BGI Genomics — which does DNA-sequencing for healthcare companies and research institutions worldwide.
• Zhejiang Dahua — which makes surveillance equipment and has previously sold “Uyghur warning systems” to Chinese state security services, and whose founders launched Leapmotor, a struggling electric car company that recently IPO’d in Hong Kong.

Reuters has further details, and we’ll have more analysis of the move on Monday.

Our phrase of the week is: Low grain prices hurt farmers (谷贱伤农 gǔ jiàn shāng nóng).