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China’s SenseTime postpones Hong Kong IPO after US blacklisting

News Snapshot:

Chinese artificial intelligence start-up SenseTime said Monday it was postponing a $767 million initial public offering in Hong Kong after it was blacklisted by the United States over accusations of genocide in Xinjiang. The US Treasury announced the ban on Friday, saying SenseTime’s facial recognition programmes were designed in part to be used against Uyghurs and other mostly Muslim minorities in Xinjiang, where UN experts and researchers estimate more than one million have been incarcerated in prison camps. The blacklisting immediately cast a shadow over the company’s upcoming IPO plans in Hong Kong, which had been due to take place…

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