China to establish list of unreliable entities: MOC
China will establish a list of unreliable entities based on relevant laws and regulations, according to the Ministry of Commerce Friday.
Foreign enterprises, organizations and individuals that do not comply with market rules, violate contracts, block or cut supplies to Chinese firms with non-commercial purposes, and seriously damage the legitimate rights and interests of Chinese enterprises, will be added to the list of unreliable entities, said Gao Feng, a spokesperson with the MOC.
Detailed measures will be announced soon, Gao said.
The Chinese government decided to establish the list to safeguard national security, public interests and the legitimate rights and interests of Chinese enterprises, he said.
The decision has been made in line with China's foreign trade law, anti-monopoly law, state security law and other related laws and regulations, said the spokesperson.
The list will include foreign legal persons, other organizations or individuals who, out of non-commercial purposes, have taken discriminatory measures on Chinese entities, caused actual damage to Chinese firms and related industries, and posed actual or potential threats to China's state security, according to Gao.
By violating normal market rules or contracts for non-commercial purposes, some foreign entities have adopted discriminatory measures on Chinese firms including a blockade or supply cut which have damaged the legitimate rights and interests of Chinese companies and jeopardized China's national security and interests, Gao said.
In this way, foreign entities have also threatened the security of the global industry and supply chain, dealt a blow to the global economy, and damaged the interests of related enterprises and consumers, he added.
The decision to establish the list aims to uphold the international rules of the economy and trade as well as the multilateral trading system and fight unilateralism and trade protectionism, Gao said.