China will draw up a list of unreliable entities for foreign companies, organizations or individuals in accordance with relevant laws and regulations to safeguard its legitimate rights and interests, said a spokesman for the Ministry of Commerce (MOC) on Friday.
MOC spokesman Gao Feng said the list will include foreign companies, organizations and individuals that violate market rules and contracts, block or cut supplies to Chinese firms, and seriously damage the legitimate rights and interests of Chinese enterprises.
“Some foreign entities have violated the market rules for non-commercial purposes, blocked or cut supplies to Chinese firms and launched discriminatory measures against Chinese companies.
Such moves harm the legitimate rights and interests of Chinese enterprises, endanger China’s national security and threaten to damage the global industrial and supply chain.
They have also inflicted a negative impact on the global economy, relevant enterprises, and consumers at large,” said Gao.
At present, uncertainty and instability in the world’s economy are on the rise, unilateralism and trade protectionism are resurfacing, the multilateral trading system is facing severe challenges, and normal international economic and trade activities are being disrupted.
In this context, China has decided to establish this system to protect its own rights and to ensure normal international economic and trade activities.
“China has decided to establish the ‘list of unreliable entities’ in order to safeguard international economic and trade rules and the multilateral trading system, to oppose unilateralism and trade protectionism, and to safeguard China’s national security, public interests and the legitimate rights and interests of enterprises,” he said.
Gao added that the list is drawn in accordance with Chinese laws and regulations including the “Foreign Trade Law,” “Anti-Monopoly Law” and “National Security Law”. Specific measures will be announced soon.
