Ministry of Commerce: Unreliable Entity List System to be Released in the Near Future

Release time:

2019-08-24

The United States will impose tariffs on some Chinese exports to the United States on September 1. Gao Feng, a spokesperson for the Ministry of Commerce of China, said on the 22nd that if the United States insists on going its own way, China will have to take corresponding countermeasures and will announce the unreliable entity list system in the near future.

Gao Feng, a spokesperson for the Ministry of Commerce of China, said on August 22 that if the United States insists on going its own way, China will have to take corresponding countermeasures and will announce the unreliable entity list system in the near future. China News Agency reporter Zhao Jun photo

Gao Feng said at a press conference held on the same day that any new US tariff measures will unilaterally lead to the escalation of trade frictions, which seriously violates the consensus reached at the Osaka meeting between the heads of state of China and the United States, and China firmly opposes this.

He said that if the United States implements new tariff measures, China will have to take corresponding countermeasures. China will issue a list of unreliable entities in the near future and is currently implementing the relevant procedures. He stressed that China will carry out relevant work in accordance with laws and regulations.

Talking about the impact of US tariff measures on China's economy, Gao Feng said frankly that US measures will bring certain challenges to China's exports and economy, but on the whole, "the impact is completely controllable". China has the confidence, determination and ability to meet various challenges and maintain the healthy and stable development of China's economy and foreign trade.

At present, China's absorption of foreign investment and foreign trade import and export are stable. According to official data, in July, China's import and export volume was 2.74 trillion yuan (RMB, the same below), and exports were 1.53 trillion yuan, both the highest levels in a single month this year; the amount of foreign investment absorbed increased by 8.7 year-on-year, and the growth rate also hit a new high for the year.

Prior to this, the leaders of the high-level Sino-US economic and trade consultations had called on August 13. Gao Feng revealed that the economic and trade teams of the two sides "have always maintained communication".

(Source: China News Network)

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