China plans to place foreign firms that have damaged the interests of Chinese companies on an “unreliable entity” list, announced the Ministry of Commerce, reported Caixin.
The Ministry of Commerce said that it would blacklist foreign businesses or individuals that have violated market rules and contractual obligations, or took on “discriminatory measures” to hurt Chinese business rights and interests, as well as national security.
The decisions for the blacklist would be based on China’s foreign trade, anti-monopoly and national security laws, with further details to be released at a later time, said Ministry of Commerce spokesperson Gao Feng.
The move follows the US Department of Commerce putting Huawei Technologies Co Ltd on its “Entity List,” effectively banning US companies from selling to the Chinese telecom giant.