China is preparing a list of “unreliable” entities that damage the interests of domestic companies, according to a Bloomberg report. The United States blacklisted Huawei and 70 of its affiliates on May 16, creating a situation that quickly escalated and snowballed in many U.S. companies revising their working relationships with the Chinese tech-giant.
Even though Huawei’s founder and CEO Ren Zhengfei would protest against a similar Apple ban in China, “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“, said Ministry of Commerce spokesman Gao Feng, cited by Bloomberg.
China seems to be playing the same “national security” card back against the U.S., with the list also targeting entities that “pose a threat or potential threat to national security”. Its purpose is “to protect international economic and trade rules and the multilateral trading system, to oppose unilateralism and trade protectionism, and to safeguard China’s national security, social and public interests“, Gao said.