China's Artificial Intelligence Company Updates $767 Million SenseTime List.

Chinese artificial intelligence startup SenseTime Group has sold its $767 million (£580 million) stake in Hong Kong. The announcement came a week after the list was withdrawn because Americans were barred from investing in the company. Washington has accused SenseTime of developing facial recognition software to determine people's ethnicity, emphasizing identifying Uyghurs.

The company's shares are scheduled to be traded on the Hong Kong Stock Exchange on December 30. SenseTime has maintained its goal of selling 1.5 billion shares in an initial public offering (IPO) between HK$3.85 ($0.37; $0.49) and $3.99, depending on regulatory documents. Final prices will be announced on Thursday.

The proposed listing was postponed last week after the US Treasury Department added SenseTime to a list of "China military-industrial complex companies" that bar Americans from investing in certain companies.

On Monday, SenseTime reiterated its rejection of the US government's allegations: "Our group's products and services are intended for civilian and commercial use, not military use. The company also said that while Washington's investment ban would not cause its business problems, the lack of US investors could affect its ability to raise funds.

Last week, the US Congress passed a law requiring companies to demonstrate that goods imported from China's Xinjiang region were not made through forced labor.

The US has accused China of genocide in its crackdown on the Muslim-majority Uyghur minority. Also, last week, the US imposed further restrictions on Chinese drone maker DJI and seven other Chinese companies. The Treasury Department has put the company on an exemption list and barred US citizens from buying and selling stock.

Earlier this month, the US announced that it would not send diplomats to the 2022 Winter Olympics in Beijing because of concerns about the human rights situation in China.

Other countries, including Britain and Canada, have also joined the diplomatic boycott. UN experts or human liberties groups say that in recent years more than one million people, mostly Uyghurs and members of other Muslim minorities, have been detained in a large-scale camp system in China's westernmost region, Xinjiang.

Several foreign lawmakers and parliamentarians called the treatment of Uyghurs genocidal, citing evidence of forced sterilization and deaths in the camps. China denies the accusations, saying the growth rate of the Uyghur population is above the national average.