The Ministry of Commerce (MOFCOM) Photo: VCG

China's Ministry of Commerce (MOFCOM) announced on Thursday that three US companies have been placed on its "unreliable entity list", effective immediately, to safeguard China's national sovereignty, security and development interests.

The entities are Saronic Technologies, Inc., Aerkomm Inc., and Oceaneering International, Inc., according to a MOFCOM statement.

The decision, made in line with relevant laws, prohibits the three companies from engaging in import or export activities related to China and bars them from making new investments within the country.

When asked about the considerations in imposing sanctions on these companies involved in arms sales to Taiwan region, a MOFCOM spokesperson said on Thursday that in recent years, the three US firms have engaged in so-called military-technical cooperation with Taiwan region despite China's strong opposition, seriously undermining China's national sovereignty, security, and development interests.

In accordance with laws such as China's Foreign Trade Law, National Security Law, and the Anti-Foreign Sanctions Law, as well as provisions including Article 2 of the Provisions on the Unreliable Entity List, China is holding these companies legally accountable, the spokesperson said.

China has always handled matters related to the unreliable entity list with prudence, targeting only a very small number of foreign entities that undermine the country's national security in accordance with the law, the spokesperson said, adding that foreign businesses that operate with integrity and in compliance with regulations have no cause for concern.

The Chinese government, as always, welcomes companies from around the world to invest and do business in China, and remains committed to providing a stable, fair, and predictable business environment for law-abiding foreign enterprises, per the spokesperson.

Global Times