China’s long-awaited, partially forgotten Unreliable Entity List has returned

TRIVIUM CHINA

History lesson: Companies placed o the United States Department of Commerce's Entity List are subject to restrictions on buying US goods. After Huawei was placed on the list in May 2019, the Ministry of Commerce (MofCom) vowed to draw up its own Unreliable Entities List (see May 31, 2019 Tip Sheet).

But the list never materialized. Instead it just hung over the heads of US business like a bureaucratic sword of Damocles.

On Saturday, MofCom issued a set of provisions outlining key features of the Unreliable Entities List.

Foreign companies can end up on the list for:

Endangering China's national sovereignty, security, and development interests
Violating market principles or taking discriminatory measures against Chinese entities or individuals

Companies on the list will face the following consequences:

Being restricted or banned from trade with and/or investment in China
Entry bans for key personnel
Cancellation of work or residence permits for key personnel
Fines

Get smart: With the US sanctioning Chinese companies on seemingly daily basis, Chinese authorities are looking to build tools to retaliate.

Get smarter: Chinese authorities are hesitant to actually use the Unreliable Entity List. They are keen to attract more foreign investment – not scare away foreign companies.

read more

MofCom: 商务部令2020年第4号不可靠实体清单规定

MofCom: 必要的制度完善——权威专家就《不可靠实体清单规定》答记者问

Caixin: China Reveals Punishment for Firms on Unreliable Entity List

Reuters: China's commerce ministry issues rules on 'unreliable entities' list

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