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China Slams US for Adding Firms to Export Control List

Dark clouds loom over the city in Beijing on August 23, 2024. (Photo by ADEK BERRY / AFP)
Dark clouds loom over the city in Beijing on August 23, 2024. (Photo by ADEK BERRY / AFP)
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China Slams US for Adding Firms to Export Control List

Dark clouds loom over the city in Beijing on August 23, 2024. (Photo by ADEK BERRY / AFP)
Dark clouds loom over the city in Beijing on August 23, 2024. (Photo by ADEK BERRY / AFP)

China's Ministry of Commerce said on Sunday it strongly opposed a US decision to add multiple Chinese entities to its export control list over Russia-related issues.

The United States on Friday added 105 Russian and Chinese firms to a trade restriction list over their alleged support of the Russian military.

The companies - 42 Chinese, 63 Russian and 18 from other countries - were targeted for reasons from sending US electronics to Russian military-related parties to producing thousands of Shahed-136 drones for Russia to use in its invasion of Ukraine.

US suppliers must get difficult-to-obtain licenses in order to ship to companies on the "entity list,” as it is called.

China's ministry said the US action disrupts the international trade order and hinders normal economic exchanges, adding China would take necessary measures to resolutely safeguard the legitimate rights of its companies.

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Saudi-Japanese Business Council Discusses Investment Opportunities

Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)
Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)
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Saudi-Japanese Business Council Discusses Investment Opportunities

Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)
Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)

The Saudi-Japanese business council convened in Riyadh on Sunday to explore avenues for strengthening the strategic partnership between the two nations across diverse economic sectors.

The meeting was headed by Saudi Minister of Investment Khalid Al-Falih and Japan's Minister of Economy, Trade and Industry Muto Yoji. It brought together several ministers, CEOs of major Saudi and Japanese companies, and representatives from both countries' public and private sectors.

Officials reviewed the significant achievements made since the seventh ministerial meeting within the Saudi-Japanese Vision 2030.

It explored numerous areas of growing cooperation and identified promising investment opportunities in vital sectors such as clean energy, financial services, critical minerals, special economic zones, health and biotechnology, water, e-sports, advanced and electronic industries, and more.

The meeting witnessed the signing of 13 memoranda of understanding, demonstrating the growing momentum in bilateral cooperation. The agreements, covering healthcare, infrastructure, and logistics sectors, were signed between government and private sector entities and amongst private sector companies from both countries.