China unveil punishment for firms on unreliable entity list

China will foist penalties including restricting trade, investment and visas to any company, country, group or person that appears on its “unreliable entity list,” according to guidelines published on Saturday i.e.19th September.

This list is going to contain the names of entities that pose a threat or potential threat to China’s sovereignty, national security, development and business interests; and those that discriminate against or harm Chinese businesses, organizations or individuals, the Ministry of Commerce announced on their website on this Saturday.

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In a separate statement Saturday i.e.19th September, China’s Ministry of Commerce condemned the move against WeChat and TikTok, saying that it would take “necessary measures” to protect the legal interests of Chinese firms, without explanation.