China sanctions Lockheed Martin, Raytheon for Taiwan sales

[etylo]

China sanctions Lockheed Martin, Raytheon for Taiwan sales​

BEIJING -- China on Thursday imposed trade and investment sanctions on Lockheed Martin and a unit of Raytheon for supplying weapons to Taiwan, stepping up efforts to isolate the island democracy claimed by the ruling Communist Party as part of its territory.

Lockheed Martin Corp. and Raytheon Technologies Corp.'s Raytheon Missiles and Defense are barred from importing goods into China or making new investments in the country, the Ministry of Commerce announced. It said they were added to the “unreliable entity” list of companies whose activities are restricted because they might endanger national sovereignty, security or development interests.

It wasn't clear what impact the penalties might have. 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.

Taiwan and China split in 1949 after a civil war. The island of 22 million people never has been part of the People's Republic of China, but the Communist Party says it is obliged to unite with the mainland, by force if necessary.

President Xi Jinping's government has stepped up efforts to intimidate Taiwan by flying fighter jets and bombers near the island and firing missiles into the sea.

The United States has no official relations with Taiwan but maintains extensive commercial and informal contacts. Washington is obligated by federal law to make sure the island's government has the means to defend itself.

The United States is Taiwan's main supplier of military equipment.

Raytheon Missiles and Defense, part of Raytheon Technologies Corp., was awarded a $412 million contract in September to upgrade Taiwanese military radar as part of a $1.1 billion package of U.S. arms sales to the island. Boeing Defense received a $355 million contract to supply Harpoon missiles.

Beijing responded to that sale by announcing sanctions against the CEOs of Raytheon and of Boeing Defense but gave no details of what they were.

Lockheed Martin has supplied Taiwan's military with radar, helicopters and air traffic control equipment. It plays a role in the island's development of its own fighter jet and navy frigates.

In China, Lockheed Martin has sold air traffic control equipment for civilian airports and helicopters for commercial use.

Beijing announced plans for the “unreliable entity” list in 2019 in response to U.S. restrictions imposed on Huawei Technologies Ltd., a Chinese maker of telecom equipment.

China sanctions Lockheed Martin, Raytheon for Taiwan sales

China has imposed trade and investment sanctions on United States military contractors Lockheed Martin and Raytheon for supplying weapons to Taiwan, stepping up efforts to isolate the island democracy claimed by the ruling Communist Party as part of it...

abcnews.go.com

The Ministry of Commerce issued a fine to the US arms giant twice as much as the arms sales contract to Taiwan​

Ministry of Commerce
02-16 17:05 from Beijing

Working Mechanism of Unreliable Entity List

announcement

No. 1 of 2023

In order to safeguard national sovereignty, security and development interests, in accordance with the "Foreign Trade Law of the People's Republic of China", "National Security Law of the People's Republic of China" and other relevant laws, the working mechanism of the unreliable entity list is based on Article 2 and Article 2 of the "Regulations on the Unreliable Entity List". Article 8 and Article 10 and other relevant provisions, decided to include Lockheed Martin Corporation and Raytheon Missiles & Defense, which participated in arms sales to Taiwan, into the list of unreliable entities, and Take the following measures:

1. The above-mentioned enterprises are prohibited from engaging in import and export activities related to China;

2. Prohibit the above-mentioned enterprises from making new investments in China;

3. Prohibition of the entry of senior management personnel of the above-mentioned enterprises;

4. Disapprove and cancel the work permit, stay and residence qualification of the above-mentioned senior management personnel in China;

5. Imposing fines on the above-mentioned enterprises respectively, the amount of which is twice the amount of each enterprise's arms sales contract to Taiwan since the implementation of the "Regulations on the Unreliable Entity List". The above-mentioned enterprises shall make payment in accordance with relevant laws and regulations within 15 days from the date of publication of this announcement. If this decision is not implemented within the time limit, the working mechanism of the Unreliable Entity List will take additional fines and other measures in accordance with the law.

Matters not covered in this announcement shall be implemented in accordance with the "Regulations on the List of Unreliable Entities".

This announcement comes into effect on the date of publication.

Working Mechanism of Unreliable Entity List

(Chapter of the Ministry of Commerce)

February 16, 2023

商务部对美国军火巨头开出罚单 金额为对台军售合同两倍

商务部对美国军火巨头开出罚单 金额为对台军售合同两倍

news-ifeng-com.translate.goog

 

[Krptonite]

China sanctions Lockheed Martin, Raytheon for Taiwan sales​

BEIJING -- China on Thursday imposed trade and investment sanctions on Lockheed Martin and a unit of Raytheon for supplying weapons to Taiwan, stepping up efforts to isolate the island democracy claimed by the ruling Communist Party as part of its territory.

Lockheed Martin Corp. and Raytheon Technologies Corp.'s Raytheon Missiles and Defense are barred from importing goods into China or making new investments in the country, the Ministry of Commerce announced. It said they were added to the “unreliable entity” list of companies whose activities are restricted because they might endanger national sovereignty, security or development interests.

It wasn't clear what impact the penalties might have. 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.

Taiwan and China split in 1949 after a civil war. The island of 22 million people never has been part of the People's Republic of China, but the Communist Party says it is obliged to unite with the mainland, by force if necessary.

President Xi Jinping's government has stepped up efforts to intimidate Taiwan by flying fighter jets and bombers near the island and firing missiles into the sea.

The United States has no official relations with Taiwan but maintains extensive commercial and informal contacts. Washington is obligated by federal law to make sure the island's government has the means to defend itself.

The United States is Taiwan's main supplier of military equipment.

Raytheon Missiles and Defense, part of Raytheon Technologies Corp., was awarded a $412 million contract in September to upgrade Taiwanese military radar as part of a $1.1 billion package of U.S. arms sales to the island. Boeing Defense received a $355 million contract to supply Harpoon missiles.

Beijing responded to that sale by announcing sanctions against the CEOs of Raytheon and of Boeing Defense but gave no details of what they were.

Lockheed Martin has supplied Taiwan's military with radar, helicopters and air traffic control equipment. It plays a role in the island's development of its own fighter jet and navy frigates.

In China, Lockheed Martin has sold air traffic control equipment for civilian airports and helicopters for commercial use.

Beijing announced plans for the “unreliable entity” list in 2019 in response to U.S. restrictions imposed on Huawei Technologies Ltd., a Chinese maker of telecom equipment.

China sanctions Lockheed Martin, Raytheon for Taiwan sales

China has imposed trade and investment sanctions on United States military contractors Lockheed Martin and Raytheon for supplying weapons to Taiwan, stepping up efforts to isolate the island democracy claimed by the ruling Communist Party as part of it...

abcnews.go.com

The Ministry of Commerce issued a fine to the US arms giant twice as much as the arms sales contract to Taiwan​

Ministry of Commerce
02-16 17:05 from Beijing

Working Mechanism of Unreliable Entity List

announcement

No. 1 of 2023

In order to safeguard national sovereignty, security and development interests, in accordance with the "Foreign Trade Law of the People's Republic of China", "National Security Law of the People's Republic of China" and other relevant laws, the working mechanism of the unreliable entity list is based on Article 2 and Article 2 of the "Regulations on the Unreliable Entity List". Article 8 and Article 10 and other relevant provisions, decided to include Lockheed Martin Corporation and Raytheon Missiles & Defense, which participated in arms sales to Taiwan, into the list of unreliable entities, and Take the following measures:

1. The above-mentioned enterprises are prohibited from engaging in import and export activities related to China;

2. Prohibit the above-mentioned enterprises from making new investments in China;

3. Prohibition of the entry of senior management personnel of the above-mentioned enterprises;

4. Disapprove and cancel the work permit, stay and residence qualification of the above-mentioned senior management personnel in China;

5. Imposing fines on the above-mentioned enterprises respectively, the amount of which is twice the amount of each enterprise's arms sales contract to Taiwan since the implementation of the "Regulations on the Unreliable Entity List". The above-mentioned enterprises shall make payment in accordance with relevant laws and regulations within 15 days from the date of publication of this announcement. If this decision is not implemented within the time limit, the working mechanism of the Unreliable Entity List will take additional fines and other measures in accordance with the law.

Matters not covered in this announcement shall be implemented in accordance with the "Regulations on the List of Unreliable Entities".

This announcement comes into effect on the date of publication.

Working Mechanism of Unreliable Entity List

(Chapter of the Ministry of Commerce)

February 16, 2023

商务部对美国军火巨头开出罚单 金额为对台军售合同两倍

商务部对美国军火巨头开出罚单 金额为对台军售合同两倍

news-ifeng-com.translate.goog

The effects of this would be unclear tho, weren't both entities not invested in China anyways?

Baring that theres no loss of access for both of the weapons manufacturers from any other country or financial system as these sanctions are unilateral and limited in scope to the Chinese financial system. No other country would follow.

A symbolic riposte ?

 

[etylo]

The effects of this would be unclear tho, weren't both entities not invested in China anyways?

Baring that theres no loss of access for both of the weapons manufacturers from any other country or financial system as these sanctions are unilateral as limited in scope to the Chinese financial system. No other country would follow.

A symbolic riposte ?

Apparently, the two companies have some civilian commercial dealings in China at least.

 

[datafreak]

Like they'd f** ing care

 

[etylo]

Like they'd f** ing care

No one asking for your fk opinion.

 

[jhungary]

Like they'd f** ing care

wait for them to sanction Boeing, which make the Apache the Taiwanese is using.

 

[datafreak]

wait for them to sanction Boeing, which make the Apache the Taiwanese is using.

But there is a problem there. China's civilian airliners are nowhere as established as Boeings. Maybe a decade later China will be strong enough to take on Boeing. But as of today, that possibility will be very small.

 

[jhungary]

But there is a problem there. China's civilian airliners are nowhere as established as Boeings. Maybe a decade later China will be strong enough to take on Boeing. But as of today, that possibility will be very small.

shhh, you should never think rationally.......

 

[mike2000 is back]

Lil They sanction the only few companies that have virtually no business in China. Seriously who is the CCP trying to fool here?
There are hundreds of US companies operatibg in China and making tens of billions there every year, why not pick a few and sanction them to send a real message ? Obviously its because the CCP doesn't want to escalate things with the US( and to be honest, I understand that since i believe its a rational decision actually given China’s situation). So this is just a symbolic gesture just to say "at least we did something "

 

[SaadH]

But there is a problem there. China's civilian airliners are nowhere as established as Boeings. Maybe a decade later China will be strong enough to take on Boeing. But as of today, that possibility will be very small.

Airbus and Embraer can fill the gap until Chinese airliners mature...Boeing was already lobbying US gov't to go easy on China, if they lose the Chinese market permanently, Boeing might just go the McDonnell Douglas way...

 

[etylo]

Lil They sanction the only few companies that have virtually no business in China. Seriously who is the CCP trying to fool here?
There are hundreds of US companies operatibg in China and making tens of billions there every year, why not pick a few and sanction them to send a real message ? Obviously its because the CCP doesn't want to escalate things with the US( and to be honest, I understand that since i believe its a rational decision actually given China’s situation). So this is just a symbolic gesture just to say "at least we did something "

its these two companies sell weapons to Taiwan, others are civilian.

 

[TheNoob]

But there is a problem there. China's civilian airliners are nowhere as established as Boeings. Maybe a decade later China will be strong enough to take on Boeing. But as of today, that possibility will be very small.

I feel like you're clearly underestimating Boeings investment in China, especially because the past 10 years are just the beginning of a massive market like the US was in the 80s and onwards.

 

[datafreak]

Airbus and Embraer can fill the gap until Chinese airliners mature...Boeing was already lobbying US gov't to go easy on China, if they lose the Chinese market permanently, Boeing might just go the McDonnell Douglas way...

yes, Airbus won;t use the opportunity to jack up their prices. There is a reason why people clauses against single vendor situations in contracts.

'Boeing might go McDonell Douglas way'....get help....sooon....

I feel like you're clearly underestimating Boeings investment in China, especially because the past 10 years are just the beginning of a massive market like the US was in the 80s and onwards.

Boeing has investments in India too....their biggest facility outside of USA is built in Bangalore. But we aren't deluded enough to believe that civil aviation is not a duopoly. Not having Boeings and Airbus in our airlines hurt India, not them.

 

[8888888888888]

wait for them to sanction Boeing, which make the Apache the Taiwanese is using.

Could happen

But there is a problem there. China's civilian airliners are nowhere as established as Boeings. Maybe a decade later China will be strong enough to take on Boeing. But as of today, that possibility will be very small.

Airbus

 

[hirobo2]

These two are the most evil companies in the world responsible for the deaths of hundreds of thousands if not millions of people. China only doing God a favor by putting these two on that list, which should be viewed as the list of the most evil scumbag companies in the world. Meanwhile, on the USA list are ALL legit righteous companies which the US cannot compete against.

The other thing I don't get, on an American paper money, it clearly says "In God we trust." BUT the US never follows this principle. Many people were rewarded while others were punished for their iniquities by the Biblical God not because they were righteous. There are no Angels on earth. BUT because the others were even less righteous. Why USA want be in the dumb camp that got punished by the Biblical God, while China seems to be in the other camp more righteous than US and eventually rewarded for doing so?