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China will take ‘all needed measures’ to defend corporations blacklisted by US – International Ministry

China will take ‘all necessary measures’ to defend companies blacklisted by US – Foreign Ministry

Beijing will defend the pursuits of Chinese language corporations hit by US sanctions, the nation’s International Ministry has stated. It added that the US solely hurts traders and itself when attacking Chinese language entities. 

“The Chinese language aspect will take all needed measures to safeguard the respectable rights and pursuits of Chinese language corporations and rejects US makes an attempt to intrude in China’s inside affairs,” International Ministry spokesperson Wang Wenbin stated on Friday, as quoted by Reuters.

Wang slammed the US for the “politicization of financial and commerce points,” saying that assaults in opposition to Chinese language entities are in opposition to worldwide guidelines and harm traders in varied international locations, together with these within the US.  

“Excluding high quality Chinese language corporations from the indices will solely harm the picture of and trigger losses to the indices themselves,” he stated.

Reuters beforehand cited sources saying that the US Commerce Division will blacklist greater than 10 further Chinese language corporations over alleged human rights abuses in China’s Xinjiang area. 

Additionally on Friday, international market index writer FTSE Russell, a subsidiary of London Inventory Alternate Group, introduced that it’ll delist a further 20 Chinese language corporations in compliance with an government order signed final week by US President Joe Biden. The order bans American funding corporations from investing in dozens of Chinese language corporations with alleged ties to protection and surveillance know-how sectors. 

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The US has been blacklisting Chinese language entities over stories of pressured labor and mass surveillance of the Uighurs, China’s Muslim ethnic minority. Beijing has repeatedly denied such claims and accused Washington of meddling in its home affairs. 

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