China's Ministry of Commerce (MOC) announced Thursday that it has added 10 U.S. companies to its list of unreliable entities because of their involvement in arms sales to Taiwan.
Lockheed Martin's divisions are among those sanctioned and now face severe restrictions, including a ban on China-related import and export activities and investment in the Chinese market. Executives from these companies will be banned from entering China and will have their work and residence permits revoked.
The ministry said the measures are in response to the companies' continued cooperation on military technology with Taiwan, which China views as a violation of its sovereignty and territorial integrity.
Despite the move, the MOC reiterated that China continues to welcome law-abiding foreign companies and promises a stable and fair business environment for companies operating in the country.
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