Published: Fri, June 07, 2019
Global News | By Blake Casey

China says list of 'unreliable' foreign firms coming soon

China says list of 'unreliable' foreign firms coming soon

It should provide some much relief to the Chinese tech giant, . which has been under intense worldwide scrutiny in recent months.

"The unreliable entity list system that the Chinese government will establish is a normative system designed in reaction to practices distorting the market for non-commercial purposes", he told reporters.

The Trump administration has put Huawei on its "entity list", which prohibits United States companies from trading with the firm unless they have a license.

"The Chinese government is carrying out the necessary procedures, and specific measures will be announced in the near future", commerce ministry spokesman Gao Feng said. He said no particular company or industry is being targeted.

"If the USA keeps escalating trade frictions", he said, "China will follow to the end".

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The deal was agreed as Chinese President Xi Jinping continues his three-day state visit to Russian Federation. The deal will see "the development of 5G technologies and the pilot launch of fifth-generation networks in 2019 and 2020", MTS said in a statement, according to a report on the BBC News website.

Guo Ping, one of Huawei's chairman on rotation, said he was "very happy" with the agreement "in an area of strategic importance like 5G".

Some cybersecurity experts say that Washington, by going as far as warning other countries against working with Huawei actions, will only further encourage China to become more technically self-reliant and will be dividing the world into two tech camps. China has reciprocated with tariffs of its own, among other measures. The move could jeopardize the company's future because of its heavy reliance on the US market.

China and the U.S. have also been fighting a trade war over the past year, imposing tariffs on billions of dollars of one another's goods.

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