The Chinese government is stepping up pressure on foreign businesses not to run afoul of Beijing, as the White House targets some of the Asian giant's largest technology companies.
Over the weekend, China's Ministry of Commerce released long-awaited provisions on its so-called "unreliable entity list."
The release of the list comes a day after the U.S. Commerce Department announced a ban on U.S. transactions using WeChat, a social messaging app operated by Chinese technology giant Tencent, and TikTok, a short-video app backed by Chinese start-up ByteDance. "Beijing will likely name at least one US company to the between now and year-end – possibly even in coming days – but will use this tool in a targeted fashion, particularly in its early stages," Michael Hirson, practice head, China and Northeast Asia, at consulting firm Eurasia Group, and his team said in a note released Monday.
The skyline of the central business district in Beijing on August 13, 2019. between now and year-end – possibly even in coming days – but will use this tool in a targeted fashion, particularly in its early stages," Michael Hirson, practice head, China and Northeast Asia, at consulting firm Eurasia Group, said in a note released Monday.
"The coming debut of the underscores the dilemma facing in China, who are squeezed between the legal and political dictates of the US and its Western allies on the one hand and Beijing on the other," he said.
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