Goldman reviews role in Chinese firm after U.S. released blacklist
Goldman Sachs Group Inc. bared on Tuesday it was evaluating its participation in Megvii Technology’s planned initial public offering after the U.S. release a blacklist including the said Chinese firm.
The U.S. said on Monday that Megvii, along with other Chinese companies, was blacklisted as they participated in Beijing’s repression of Muslim minority populations in the Xinjiang Uighur Autonomous Region in China.
Aside from Goldman, other U.S. companies having ties with the blacklisted Chinese firms are also in the course of reviewing their relationships.
Goldman is a co-sponsor of the Megvii IPO, together with Citigroup Inc and JPMorgan Chase & Co.
On Tuesday, the U.S. government imposed visa restrictions on Chinese government and Communist Party officials that were part of the oppression of Muslims in Xinjiang.
According to the U.N., at least 1 million Uighurs, and other members of Muslim minority groups have been detained in camps in Xinjiang.