AsianFin -- China's Ministry of Commerce announced on January 2 that it has placed ten U.S. companies, including Lockheed Martin’s missile and fire control division, on its Unreliable Entity List due to their involvement in arms sales to Taiwan. The companies affected include Lockheed Martin Missiles and Fire Control, Lockheed Martin Aeronautics, Lockheed Martin Advanced Technology Laboratories, Raytheon/Lockheed Martin Javelin Joint Venture, and several other subsidiaries of Lockheed Martin, as well as Raytheon Missile Systems and General Dynamics entities.
As part of the action, these companies will face several restrictions, including: A ban on conducting import and export activities related to China; a prohibition on new investments within China; a ban on the entry of senior executives into China; the revocation of work permits and residency for senior executives within China.
The Ministry emphasized that any issues not specifically addressed in this announcement will be handled according to the provisions of the Unreliable Entity List regulations. The measures take effect immediately following the publication of the announcement.
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