MOFCOM: China to establish 'unreliable entities' list

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China has decided to establish an unreliable entities list for foreign entities that fail to obey market rules and harm the legitimate rights of Chinese enterprises, China's Ministry of Commerce (MOFCOM) spokesperson Gao Feng said on Friday.

The commerce ministry said it's a response to the discriminatory measures launched by some foreign entities on Chinese companies facing rising trade protectionism.

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The multilateral trading system is facing severe challenges amid rising uncertainties and instabilities, said Gao Feng. Some foreign entities violate the market rule for non-commercial purposes. Such a move endangers the legitimate rights and interests of Chinese enterprises, and threatens the global industrial chain, inflicting a negative impact on the global economy.

The unreliable entities list is in accordance with Chinese laws and regulations including the Foreign Trade Laws and Anti-trust law, said Gao.

Specific measures and list of entities are expected to be announced soon, Gao added.