New Export Controls on Chinese Companies: Ministry Adds 601 Entities
The Ministry of Economic Affairs has updated the "Strategic High-Tech Products Export Entity Management List," adding 601 entities, including companies from Russia, Pakistan, Iran, Myanmar, and mainland China, specifically Huawei and SMIC.
According to the International Trade Bureau, this update is based on preventing the proliferation of weapons and other national security considerations. The ministry also advised domestic manufacturers that if they wish to export to entities on this controlled list, they must obtain a strategic high-tech product export license beforehand. Violations can result in legal penalties, including imprisonment or fines.
