The Chinese Commerce Ministry said on April 18 that Beijing is banning the exports and imports of two U.S. defense contractors, Lockheed Martin and Raytheon Technologies, for supplying weapons to Taiwan.
The ban is part of the sanctions imposed against Lockheed Martin and Raytheon Missiles & Defense—a subsidiary of Raytheon Technologies—in February “to prevent Chinese products from being used in their military business,” the ministry stated.
The ministry urged Chinese companies to “strengthen due diligence and compliance system construction, and verify transaction information” in order to avoid violating China’s sanctions on the two American firms.
“For violations of relevant regulations, the relevant departments will be held accountable in accordance with laws and regulations,” it stated….