Feng Leng
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China’s Commerce Ministry on Saturday released detailed rules on the country’s unreliable entity list mechanism that could severely punish foreign entities and individuals for undermining China’s sovereignty, security and development interests.
Foreign entities on China's unreliable entity list could face a ban or restriction on engaging in China-related import or export activities, ban or restriction on investment in China, ban or restriction on entering China, and restriction on or revoking work permits, status of stay or residence in China, according to the rules issued on Saturday.
A fine of the corresponding amount according to the severity of the circumstances may also be imposed on foreign entities on China's unreliable entity list.
The ministry did not release the first unreliable entity list involving specific foreign entities or individuals on Saturday.
Finally... after a year's delay... Beijing has finally come to realize that it's not possible to unilaterally remain open to American / Western business when the other side is deliberately sabotaging your efforts. "Opening up" is a two way road. If either side rejects it, then it ceases to exist. China must now fully decouple from the US and switch to BRI in a complete transformation of the economy. Without Chinese support for the US dollar, the US economy will enter into decades of stagflation.
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