China's Strategic Move on US Companies

In a significant development, the Chinese Ministry of Commerce (MOFCOM) announced on Thursday the addition of 28 American companies to its export control list. This list includes prominent names such as Lockheed Martin Corporation, General Dynamics, Raytheon Missiles & Defense, and Boeing Defense, Space & Security.

Rationale Behind the Decision

The ministry outlined that this decision aims to "safeguard national security and interests and fulfill international obligations such as non-proliferation". It emphasized that the export of "dual-use items" to the listed firms is now prohibited and urged that "any related export activities currently underway should be stopped immediately". However, the ministry also mentioned that exports could be permitted under "special circumstances" if deemed absolutely necessary, but only after the export operator submits an application to the ministry for such permission.