Business

Beijing slams US blacklisting of Chinese companies

Vows to take all necessary measures to safeguard rights of Chinese companies

Updated 5 years ago · Published on 19 Dec 2020 9:45PM

Beijing slams US blacklisting of Chinese companies
Relations between Washington and Beijing soured under US President Donald Trump’s administration, which saw the US start a trade war with China and expand its list of sanctioned entities to a few hundred Chinese companies and subsidiaries – Pixabay pic, December 19, 2020

BEIJING – Beijing today accused the United States of “bullying” after Washington announced export controls on dozens of Chinese firms over alleged ties to China’s military.

The announcement – in the final weeks of US President Donald Trump’s term – comes after relations between Washington and Beijing soured under his administration, which saw the US start a trade war with China and expand its list of sanctioned entities to a few hundred Chinese companies and subsidiaries.

China’s commerce ministry on Saturday said it “firmly opposes” the move, which will affect the country’s biggest chipmaker, SMIC, and vowed to “take necessary measures” to safeguard Chinese companies' rights.

The ministry accused the United States of “abusing export controls and other measures to continuously suppress” foreign entities, and urged Washington to “stop unilateralism and bullying”.

US Commerce Secretary Wilbur Ross yesterday said the designations, which restrict US companies' abilities to do business with the firms, are over an array of charges including human rights abuses and the activities of the Chinese military – particularly in the South China Sea – as well as theft of US technology.

SMIC has received billions of dollars in support from Beijing and is at the heart of its efforts to improve the country's technological self-sufficiency.

The designation means US companies must apply for a licence before exporting to SMIC, and specifically targets the Chinese firm's ability to acquire materials for producing chips of 10 nanometres or smaller, the best class in the industry. – AFP, December19, 2020

Related News

Malaysia / 18h

Malaysia's July exports increase by 38.2 per cent

Opinion / 4d

Massive attacks in the Thai Deep South aimed at destroying the economy

Malaysia / 5d

Billionaire numbers reach record high as wealth remains concentrated

Opinion / 6d

Why is Israel pushing toward confrontation with Türkiye?

Malaysia / 1w

MP to raise commingled oil cargo tax uncertainty in Parliament

Business / 1w

Independent review needed, not blind denial, to address US claims – maritime expert

Spotlight

Malaysia

Elderly man admits to hitting neighbour with iron rod

Malaysia

Body found at KLIA2 in tyre storage compartment of aircraft from Japan

Malaysia

Factory operator faces rape, unnatural sex charges involving polytechnic student

Malaysia

Ismail Sabri granted RM300k bail after pleading not guilty to asset declaration charge

By Alfian Z.M. Tahir

Malaysia

Sunway Lagoon ride halted as safety probe seeks to protect public - DOSH

Malaysia

Malaysia ready to deploy military expertise for Nepal flood relief, says Defence Minister

Malaysia

Violence in Thailand: Visitors drop by almost 50 per cent

By Ian McIntyre

You may be interested

Business

Petronas revenue jumps 15% to RM152.4b as energy investments lift first-half earnings

Business

Malaysia’s international reserves stand at US$132.07b in July

Business

Questions over traceability of nearly 77,000 tonnes of K8 cargo at Tanjung Langsat

Business

K8 Cargo: Company still in limbo, claims CEO

Business

Robo.ai Inc announces appointment of new independent director

By Alfian Z.M. Tahir

Business

Robo.ai swings to positive equity after US$46.7m first-half profit

By Alfian Z.M. Tahir

Business

Oil falls for fourth day as Hormuz supply fears ease

Business

ASM 2 Wawasan declares seven-year high payout of 5 sen a unit