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China releases rules for ‘Unreliable entities’

Beijing announced in May 2019 that it would create a list of ‘unreliable entities’ of foreign firms or individuals that violated market rules or contractual obligations or took measures that hurt the rights of Chinese businesses or threatened China’s national security interests. Commerce Ministry said, it will prohibit foreign firms listed as unreliable entities from engaging in import, export and investment in China. It is yet to publish the list.

Authorities will set up a working mechanism and an office to help implement work related to the list, it added. Foreign firms could be removed from the list if they correct their behaviours and takes steps to eliminate the consequences of their actions, it said. After President Donald Trump’s administration imposed additional tariffs on Chinese goods and curbs on Huawei Technologies Co last year, China vowed to draw up a list aimed at punishing foreign firms deemed harmful to Chinese interests.

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