What ! That is going to hit all the major China themed ETF like MCHI, KWEB and several actively managed funds by JPM and BlackRock.
The list is abused, any companies whose progress is too fast will be thrown in.
In fact, almost all BRI companies has been put in the entity list.
This is an attempt to cut them off from the capital market. First the US investors, next is from world capital. I can imagine "Investing in these companies means undermining the free world order, any nations that do so will be sanctioned".