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China Imposes Trade Restrictions on US companies

Economy

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Beijing, June 22 (QNA) - China announced Monday the inclusion of 10 US entities, including Aveox, Inc., to the export control list in accordance with the nation's export control law and regulations on export control of dual-use items.

The measure was taken to safeguard national security and interests, and fulfill international obligations such as non-proliferation, according to a statement from the Chinese Ministry of Commerce.

Effective as of the date of this announcement, export operators are prohibited from exporting dual-use items to the 10 entities, the statement added.

Organizations and individuals from any country or region are prohibited from transferring or providing dual-use items originating in China to these entities. Relevant ongoing export activities shall be immediately halted, according to the statement.

On a related note, China issued a notice prohibiting the purchase of products manufactured by 46 designated US companies in government procurement.

Under the new measure, procurement entities participating in government purchasing activities are barred from buying products made by the listed US firms, including Lockheed Martin Corporation and Raytheon Missiles and Defense.

The Chinese Ministry of Finance said that the measure was taken in accordance with relevant Chinese laws and regulations, adding the restriction does not apply to US-invested companies operating in China. (QNA)

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