China Imposes New Export Controls on 10 US Companies Amid Tech and Defense Rivalry

Kathmandu. Amidst growing competition between America and China in the technology and defense sectors, Beijing has announced new export controls on 10 American companies. China has taken retaliatory restrictive measures targeting American companies involved in defense and rare earth minerals in response to Washington blacklisting Chinese companies.

A statement issued by China's Ministry of Commerce on Monday stated that new export controls have been implemented in response to the US government's move to include Chinese companies in the so-called 'Chinese Military Enterprise List'. According to the ministry, this decision was deemed necessary for the protection of national security.