China’s unreliable entity list to protect healthy market behavior

Source:Global Times Published: 2019/6/6 18:24:48

China's unreliable entity list is being prepared and will soon be released to ensure healthy market operations in China, Gao Feng, spokesperson of the Ministry of Commerce, said at a press conference on Thursday.

In response to questions on whether the list will  target US companies or companies that have cut off cooperation with Huawei, Gao said the list is "not targeting specific industries, companies or persons," and will protect the legitimate rights of companies. He added that the list will be drafted under the framework of the World Trade Organization to ensure that the legal operations of companies will be protected. 

"It is common practice in antitrust laws in many countries," Gao said during the press conference. "Companies that comply with Chinese laws and regulations and respect the spirit of contracts will have nothing to worry about." 

However, Gao also noted that China's unreliable entities blacklist is aimed at striking back at trade protectionism and unilateralism that is damaging healthy market activity,and China will not refrain from taking action to protect the interests of its people from further US pressure. 

The proposed unreliable entity list was announced on Friday by the Ministry of Commerce. According to the spokesperson, any foreign company that cuts off from Chinese companies for noncommercial reasons will be listed. 

Global Times 

Posted in: MARKETS

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