China slams US for adding firms to export control list, vows action

investing.com 25/08/2024 - 04:47 AM

China Opposes U.S. Export Controls on Chinese Entities

BEIJING (Reuters) – China’s Ministry of Commerce expressed strong opposition on Sunday to a U.S. decision to add several Chinese entities to its export control list concerning Russia-related matters.

On Friday, the United States included 105 firms from Russia and China in a trade restriction list due to their alleged support of the Russian military.

The targeted companies consist of 42 from China, 63 from Russia, and 18 from other countries. They were identified for various reasons, including the transfer of U.S. electronics to military-related Russian entities and the production of thousands of Shahed-136 drones for use in Russia’s invasion of Ukraine.

U.S. suppliers face challenges in obtaining licenses necessary to ship to those on the “entity list.” China’s ministry stated that the U.S. action disrupts international trade order and hinders regular economic exchanges, asserting that China would implement measures to protect the legitimate rights of its companies.




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