The United States sanctioned Qiji Chuangtan Beijing Investment Management Co Ltd (MiraclePlus) and four other Chinese entities Oct. 19, targeting venture funding linked to the theft of Google trade secrets.
Their assets within U.S. jurisdiction are frozen. The Treasury Department said foreign-exchange and banking transactions subject to U.S. jurisdiction also face restrictions. U.S. persons are barred from investing in or purchasing significant amounts of the entities’ equity or debt instruments.
Treasury’s list includes Shanghai Zhisuan Technology Co Ltd and three entities related to MiraclePlus: Beijing Qiji Chuangtan Phase I Venture Capital Center Limited Partnership, Beijing Qiji Chuangtan Phase II Venture Capital Center Limited Partnership, and Beijing Qiji Chuangtan Zhiyuan Enterprise Management Center Limited Partnership.
The State Department said MiraclePlus supplied seed capital to Shanghai Zhisuan in exchange for an ownership stake. It cited that investment as significant support connected to trade-secret theft, the stated basis for MiraclePlus’s designation. The finding does not establish that MiraclePlus itself took Google’s materials.
Shanghai Zhisuan founder Linwei Ding, a former Google engineer, presented his venture at a MiraclePlus conference, according to a court order. The Justice Department alleged that, while working at Google, Ding uploaded more than 2,000 pages of company material concerning chips and systems used in artificial intelligence computing.
A jury found Ding guilty on Jan. 29, 2026, of seven trade-secret theft counts and seven economic espionage counts. On Aug. 20, a judge entered a judgment of acquittal on the espionage counts, finding insufficient evidence that Ding intended to benefit the Chinese government. The theft convictions remained in place.
Treasury’s General License 2 authorizes transactions ordinarily necessary to wind down dealings with MiraclePlus, its three named related entities and certain majority-owned entities through 12:01 a.m. ET on Jan. 19, 2027. The authorization does not cover Shanghai Zhisuan.
