China boosts export controls on dual use products


Chinese Premier Li Qiang at the Asean Plus Three summit in Vientiane on Oct 10. -PHOTO: REUTERS

BEIJING: 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 says.

The regulations aim to improve transparency and standardisation 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 said Beijing is supporting Russia’s war effort in Ukraine by supplying dual use goods including microelectronics that can help it build weapons.

Meanwhile, China said 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. — Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
China , export , war , Ukraine

Next In Business News

Ringgit rises to 3.97 as US-Iran ceasefire lifts market
AI,�eCommerce�tailwinds to buoy logistics sector
Perak Transit names Jeffrey Cheong deputy
EPB eyes transfer from ACE to Main Market
Bus Cap secures Bursa Malaysia nod for ACE Market listing
MM Computer moves forward with IPO
SC appoints Manoj Kurup as executive director for enforcement
Ageing population shifts�the re-rating narrative
Infoline unit to buy RM19mil factories
LSH Capital wins Kuantan road contract

Others Also Read