China said it did not have a timetable or pre-set names of companies on its "unreliable entities list" but if foreign firms violate Chinese laws or commit "illegal acts" they could be added to this list and face measures.[NINGBO] China said it did not have a timetable or pre-set names of companies on its"unreliable entities list" but if foreign firms violate Chinese laws or commit"illegal acts" they could be added to this list and face measures.
"If foreign entities do not commit illegal acts, there is no need to worry about this," the commerce ministry said in a statement on Sunday. China set up rules for the list and will prohibit foreign firms listed as unreliable entities from engaging in import, export and investment in the country. Foreign companies which may be added to this list will depend on whether they violate Chinese laws, endanger China's national sovereignty, security, and development interests, violate market principles and damage Chinese companies, other organisations and individuals.
On claims by media that this list is China's countermeasure against recent US actions against Chinese companies such as Huawei Technologies, WeChat and TikTok, the ministry said the regulations were a regular legislative work process.
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Source: The Straits Times - 🏆 8. / 63 Read more »
Source: The Straits Times - 🏆 8. / 63 Read more »