China’s Ministry of Commerce (MOFCOM) released a new regulation for its Unreliable Entity List on September 19 which states that China will take countermeasures against any foreign entities that have caused actual harm and losses to Chinese entities for non-commercial purposes.
The Chinese government announced the Unreliable Entity List system in May 2019 following a raft of measures in the US aimed at suppressing Chinese telecommunication giant Huawei.
According to the new rules, countermeasures include restricting or banning imports and exports of listed entities related to China, restricting or banning investment in China and entry to China and revoking their permits to stay in China.
A MOFCOM official said at a press conference on the same day that the new regulation does not mean a slowdown in China’s reform and opening-up, but aims to protect Chinese enterprises and individuals and keep a fair and free foreign trade order.
The official added that there is no schedule for the list, and China will make the list, if necessary, through a transparent and legal process.
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