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China to create blacklist of entities as trade row with US deepens

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China to create blacklist of entities as trade row with US deepens

China will draw up a list of "unreliable" foreign entities it believes threaten domestic companies, a move that could further complicate the ongoing trade dispute with the U.S.

The list will include foreign companies, organizations or individuals that do not comply with market rules, violate contracts, impose blockades on or cut off supplies to Chinese companies for noncommercial purposes, according to Ministry of Commerce Spokesman Gao Feng.

Specific details will be announced soon, Gao added.

The U.S. Commerce Department blacklisted Chinese telecommunication equipment maker Huawei Technologies Co. Ltd. this month over perceived national security threats, though it later scaled back restrictions.

Meanwhile, China's state planning agency issued a statement early this week, suggesting that Beijing could restrict the export of rare earth minerals to the U.S.

China also reportedly halted purchases of soybeans from the U.S.