The U.S. Department of Commerce has approved a request by Chinese artificial intelligence firm iFlyTek to exempt it from a trade blacklist, iFlyTek said in a filing to the Shenzhen Stock Exchange on Monday.
The exemption will enable iFlyTek to buy American-made medical supplies to help fight the Covid-19 outbreak in China, where the epidemic has so far claimed more than 2,500 lives, according to the filing.
In October 2019, the U.S. government added iFlyTek to its so-called Entity List, barring the Chinese firm from buying products and services from American suppliers.
Since the deadly coronavirus began spreading across China in January, many of the country’s tech companies have pitched in to support the battle against the disease, donating money and medical resources to places hit by the virus.
Apart from providing financial support, iFlyTek says it is also applying its AI technology to help combat the virus. The company’s technology is being used to screen for patients infected with the coronavirus and enable students, who have been forced to stay home due to the outbreak, to continue their studies via online learning platforms, according to the filing.
Shares of iFlyTek soared 4.06% as of 1:23 p.m. Monday.
Contact reporter Ding Yi (firstname.lastname@example.org)