Economics
China Threatens Sweeping Blacklist of Firms After Huawei Ban
- Beijing says it will create list of ‘unreliable entities’
- Targets companies that violate market rules, cut off supply
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China said it will establish a list of so-called “unreliable" entities it says damage the interests of domestic companies, a sweeping order that could potentially affect thousands of foreign firms as tensions escalate after the U.S. blacklisted Huawei Technologies Co.
China will set up a mechanism listing foreign enterprises, organizations and individuals that don’t obey market rules, violate contracts and block, cut off supply for non-commercial reasons or severely damage the legitimate interests of Chinese companies, Ministry of Commerce spokesman Gao Feng said Friday. "Necessary measures will be taken" against those on the list, he said, adding that specifics would be released soon.