20-04-2023, 10:45 PM
https://news.yahoo.com/china-reveals-det...54136.html
China reveals new details of Raytheon, Lockheed sanctions
China revealed new details of sanctions it previously announced against two U.S. weapons manufacturers Tuesday, including a ban on Chinese companies doing business with them.
China imposed trade and investment sanctions in February on Lockheed Martin and Raytheon Technologies Corp.’s Raytheon Missiles & Defense for supplying weapons to Taiwan, the self-governed island claimed by China.
China's Ministry of Commerce said in a statement late Tuesday that the sanctions include a ban on exports and imports by the two companies from and to China “to prevent Chinese products from being used in their military business."
It added that Chinese companies should “strengthen their due diligence and compliance system construction to verify transaction information” and should not knowingly conduct business with the two companies while importing, exporting or transporting products.
It wasn’t clear what immediate impact the penalties might have, but the restrictions on imports and exports could hurt the two companies. The United States bars most sales of weapons-related technology to China, but some military contractors also have civilian businesses in aerospace and other markets.
China reveals new details of Raytheon, Lockheed sanctions
China revealed new details of sanctions it previously announced against two U.S. weapons manufacturers Tuesday, including a ban on Chinese companies doing business with them.
China imposed trade and investment sanctions in February on Lockheed Martin and Raytheon Technologies Corp.’s Raytheon Missiles & Defense for supplying weapons to Taiwan, the self-governed island claimed by China.
China's Ministry of Commerce said in a statement late Tuesday that the sanctions include a ban on exports and imports by the two companies from and to China “to prevent Chinese products from being used in their military business."
It added that Chinese companies should “strengthen their due diligence and compliance system construction to verify transaction information” and should not knowingly conduct business with the two companies while importing, exporting or transporting products.
It wasn’t clear what immediate impact the penalties might have, but the restrictions on imports and exports could hurt the two companies. The United States bars most sales of weapons-related technology to China, but some military contractors also have civilian businesses in aerospace and other markets.
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