On September 19, China’s Ministry of Commerce (MOFCOM) released an administrative order—the “Provisions on the Unreliable Entity List” (“the UEL”)— that provides initial procedures for the designation of persons, companies, or organizations that act contrary to China’s interests, as well as laying out possible sanctions.
While China has not yet targeted any persons or companies under this authority, non-Chinese firms operating in China or with Chinese counterparties should monitor developments regarding implementation of the new order to better understand their potential exposure.
Finding this content useful?
DOLFIN is the premier portal for financial crimes and sanctions compliance. You can learn more here, or if you want to see it in action, schedule a demo or request a free trial.
Apply now for access to our extensive set of resources and keep you and your company informed on the latest regulations and sanctions and build your financial integrity.