Blockade China also has to "discontinue" American companies? China’s Ministry of Commerce announced that it will establish a “list of unreliable entities”, and US stocks plunged nearly 300 points before the marketOn the evening of the 31st, the Ministry of Commerce of the People's Republic of China announced that it would impose unblocked foreign business organizations or individuals that did not comply with market rules and deviate from the spirit of contract, and imposed blockades or confessions on Chinese enterprises for non-commercial reasons, seriously damaging the legitimate rights and interests of Chinese enterprises. Entity list. Specific measures will be announced in the near future, and this move is also seen as a counterattack against the US ban. The move caused Dow Jones Futures to plunged, the German DAX index fell 1.2%, and the European STOXX600 index fell 1.1%.
China’s Ministry of Commerce spokesman Gao Feng said that at present, “unilateralism and trade protectionism are on the rise, the multilateral trading system is facing severe challenges, normal international economic and trade activities are disrupted, and some foreign entities violate normal market rules for non-commercial purposes. The spirit of contract, the blockade of Chinese enterprises and other discriminatory measures, damage the legitimate rights and interests of Chinese enterprises, endanger China's national security and interests, but also pose a threat to the global industrial chain and supply chain security.
Gao said that in order to safeguard international economic and trade rules and the multilateral trading system, oppose unilateralism and trade protectionism, and safeguard China's national security, social public interests and legitimate rights and interests of enterprises, according to the Foreign Trade Law, the Anti-Monopoly Law, China's National Security Law and other regulations, China is deciding to establish a "list of unreliable entities". For non-commercial purposes, foreign legal persons, other organizations or individuals that have imposed blockades, confessions, or other discriminatory measures against Chinese entities that cause substantial damage to China's related industries and pose a threat or potential threat to national security will be included.
However, for foreign legal persons listed in the "unreliable entity list", other organizations or individuals, what kind of "necessary measures" the Chinese government will take, and the peak only said that "specific measures will be announced in the near future." As Trump also stated that it would increase the Mexican tariff, under the two negative factors, the US stock market was in a downturn, and the Dow Jones index futures opened nearly 300 points. The S&P 500 and Nasdaq futures also Sharply lower, the decline was close to 1%.
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