Economy

China boosts export controls on dual use items, state media says

BEIJING (Reuters) – Chinese Premier Li Qiang has signed a decree of the State Council to unveil regulations on export control of so-called dual use items, which will take effect on Dec. 1, 2024, state news agency Xinhua said on Saturday.

The regulations aim to improve transparency and standardization of export control policies and to boost export control capabilities of items that may be used either for civilian or military purposes, said Xinhua.

The United States says Beijing is supporting Russia’s war effort in Ukraine by supplying dual use goods, including microelectronics, that can help it build weapons. China says it has not provided weaponry to any party, and that normal trade with Russia should not be interrupted.

The new regulations put in place a permit system for the export of dual use goods and create a list of restricted goods. Exporters of such goods will have to disclose the ultimate user and the intended use of the exported goods.

This week Washington sanctioned two Chinese companies and a Russian affiliate involved in making and shipping attack drones and warned the two countries to halt cooperation boosting the Ukraine war effort.

This post appeared first on investing.com

You May Also Like

Editor's Pick

Sen. JD Vance (R-Ohio) and Minnesota Gov. Tim Walz (D) will face off Tuesday night at a CBS News vice-presidential debate in New York....

Economy

A U.N. human rights group confirmed Hamas’ leader in Lebanon, who was recently killed by Israeli strikes, was their employee.  Fateh Sherif was killed...

Latest News

A North Korean defector who escaped to the South more than a decade ago was detained after attempting to cross back into North Korea...

Investing

Astron (ASX:ATR) and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) have completed the establishment of a joint venture to advance the Australia-based Donald rare earths and mineral sands...

Disclaimer: balanceandcharge.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 balanceandcharge.com

Exit mobile version