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China will make a list of unreliable foreign companies

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China will make a list of unreliable foreign companies
May 31
13:00 2019

China intends to make its own list of foreign companies that interfere with interests and violate the rights of local business. Such a measure will be introduced in response to the US actions.

The “black list” is likely to worsen China’s relations with America. Thousands of companies may be at risk. At the moment, only Huawei has suffered from a trade dispute.

The Ministry of Commerce of the People’s Republic of China has announced that the authorities will develop a mechanism, which will be used to add  foreign companies to the list of organizations and individuals who violate contracts, hampering the supply of products, etc.

Obstacles in the way of Chinese business for non-business reasons threaten the global trade chains, as well as the security of the PRC itself.

Making a list of such companies will help combat protectionism and protect global trade and the economy.

In May, the United States imposed increased duties against Chinese goods, totaling $ 200 billion, raising the tariff from 10 to 25%. China responded with mirror duties on products from the States (total cost of approximately $ 60 billion).

Experts point out that China is trying to respond to the actions of America at a similar level. After the information about the existence of the list was made public, many raised the question: which American companies operating in the PRC would be the first victims of the dispute between the two states?

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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