Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Nov. 11 (Xinhua) — China's Ministry of Commerce said Tuesday it has noted a U.S. announcement that it will suspend for one year, effective Nov. 10, a rule that extends export restrictions to any company that is 50 percent or more owned by parties on U.S. sanctions lists.
As the official representative of the Ministry of Commerce noted, this is an important step for the American side in implementing the consensus reached at the Chinese-American trade and economic consultations in Kuala Lumpur.
As for the course of action after the one-year pause in applying the so-called 50 percent rule ends, the two countries will continue discussions on the matter, the Chinese ministry representative added.
China is willing to work with the United States to firmly adhere to the principles of mutual respect and equal consultation, strengthen dialogue and exchanges, and properly handle differences, so as to create favorable conditions for mutually beneficial cooperation between enterprises of the two countries and ensure the security and stability of global industrial and supply chains, the official representative concluded.
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