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Monday, September 25, 2023

China’s Ministry of Commerce Opposes US Export Control on Six Chinese Entities

BusinessCompaniesChina's Ministry of Commerce Opposes US Export Control on Six Chinese Entities

The Chinese Ministry of Commerce (MOC) has expressed its strong opposition to the United States’ recent decision to put six Chinese entities on its “entity list” of export control. The move comes after the US Commerce Department added the six entities to the list, citing their involvement in supporting the development of Chinese military aircraft.

In a statement released on Tuesday, the MOC firmly opposed the decision, calling on the US to put an end to what it called “unreasonable oppression on Chinese enterprises.” The statement added that such actions have affected the stability of global industrial and supply chains, as well as undermined the interests of global peace and development.

The MOC went on to say that the US has long overextended the concept of national security and has abused export controls. The statement claimed that the US has used the export controls as a way to suppress and contain China’s technological development, thereby preventing Chinese enterprises from conducting normal business activities.

Moreover, the MOC said that it would take necessary measures to safeguard the lawful rights of Chinese enterprises. The move is expected to further escalate tensions between the world’s two largest economies, who have been locked in a bitter trade dispute since 2018.

The US has previously placed Chinese telecoms giant Huawei and semiconductor manufacturer Semiconductor Manufacturing International Corp. (SMIC) on its entity list. The latest move will only add to the growing list of companies on the list, which is seen as a way for the US government to restrict the ability of Chinese companies to access American technology.

The latest developments are likely to further complicate the ongoing economic tensions between the two countries. The US and China have already imposed tariffs on each other’s goods, and China has responded with its own measures, including the devaluation of its currency. The latest move by the US is likely to be met with a strong response from China, which has previously threatened to retaliate against US companies that have been placed on its entity list.

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