On Wednesday the U.S. Department of Commerce added China General Nuclear Power Group, the nation’s largest state-owned nuclear company, to the “entity list.” That means American companies are now barred from selling products to any company on that has been blacklisted. Beijing responded by saying that “most Chinese companies have already prepared for the worst since the onset of the trade war.” Beijing hit back at the U.S. for adding China’s largest state-owned nuclear company to a blacklist, which essentially bars all American firms from selling products to the firm. The U.S. Department of Commerce placed China General Nuclear Power Group (CGN) to the “entity list” on Wednesday, saying the nuclear firm and three of its subsidiaries allegedly “engaged in or enabled efforts to acquire advanced U.S. nuclear technology and material for diversion to military uses in China.” In response, state-owned English newspaper China Daily published an editorial saying the U.S. government’s accusation of CGN diverting technologies for military use is “just an excuse.” Mark Hibbs, non-resident senior fellow at global policy think tank, Carnegie Endowment for International Peace’s Nuclear Policy Program said the U.S. Department of Energy announced in 2018 that exports of listed nuclear goods to Chinese firms would be “more tightly controlled.” “The latest move underscores this policy direction,” Hibbs told CNBC, explaining it means that if an American company or person does business with a listed entity, they would be violating U.S. law and be liable to be prosecuted. Any “cooperation between US firms and CGN for conventional nuclear power reactors” will presumably be denied, added Hibbs.
CNBC 16th Aug 2019 read more »
A U.S. decision to stop China General Nuclear Power Corp (CGN) and its subsidiaries from dealing with U.S. companies was a misuse of export control measures and would harm both U.S. and Chinese firms, China’s foreign ministry said.
Reuters 16th Aug 2019 read more »