US adds Tencent to list of firms allegedly connected to Chinese military

Update, January 8, 2025: Tencent has provided a further statement regarding the decision made by the US Department of Defense.

"As Tencent is neither a Chinese military company nor a military-civil fusion contributor to the Chinese defense industrial base, it believes that its inclusion in the list is a mistake," the statement read.

"Tencent intends to initiate a reconsideration process to correct this mistake. During the process, it will engage in discussions with the US Department of Defense to resolve any misunderstanding, and if necessary, will undertake legal proceedings to remove Tencent from the list."

Original story, January 7, 2025: The US Department of Defense has added Tencent to a list of companies it alleges are connected to the Chinese military.

As reported by Bloomberg, Tencent has deemed its inclusion on the list as a "mistake".

"We are not a military company or supplier," said Tencent spokesperson Danny Marti.

"Unlike sanctions or export controls, this listing has no impact on our business. We will nonetheless work with the Department of Defense to address any misunderstanding."

The designation list originates from an executive order issued in 2020 by US president-elect Donald Trump, which prevents US companies from investing in firms allegedly linked to the Chinese military.

As the world's largest games company, Tencent owns Riot Games, Inflexion Games, Funcom, and Sharkmob.

It also has minority stakes in several developers including Epic Games, FromSoftware, Remedy, Larian Studios, and Bloober Team.