More Than 11 Enterprises Involved In China'S Textile Industry

On July 20, the U.S. Department of Commerce's Bureau of industry and Security said it would put 11 Chinese companies on the list of entities and that the move would lead to new restrictions on the import of US technology and goods.

The 11 companies on the list are Changji Esquel Textile Co. Ltd., Hefei bitland Information Technology Co. Ltd., Hefei Meiling Co. Ltd., and Hetian Haolin Hair Accessories Co Ltd., Hetian Taida apparel Co, Ltd., KTK group, Tanyuan Technology Co. Ltd., Nanjing synergy Textiles Co. Ltd., Nanchang o-film tech, Xinjiang Silk Road BGI, Beijing Liuhe BGI.

From May 2019, the United States listed Huawei in the entity list, and by October 2019, 28 Chinese science and technology enterprises and government agencies will be included in the entity list. Different from the past, many enterprises in this list mainly engaged in textile, jewelry and household appliances.

In response to the move, foreign ministry spokesman Wang Wenbin responded at a regular press conference of the Ministry of foreign affairs today: "the US side, under the pretext of so-called human rights, has abused export control measures and listed relevant Chinese enterprises in the entity list, which violates the basic norms of international relations, interferes in China's internal affairs and damages China's interests. China firmly opposes this.", "The US side is not concerned with human rights issues at all, but is trying to suppress Chinese enterprises, undermine Xinjiang's stability and discredit China's policy of governing Xinjiang. We urge the US side to withdraw relevant decisions and stop interfering in China's internal affairs. China will continue to take all necessary measures to safeguard the legitimate rights and interests of Chinese enterprises.".

Tu Xinquan, President of the China WTO Research Institute of the University of international business and economics, told reporters that from the companies listed in the entity list, the move has nothing to do with the conflicts between China and the United States in the fields of economy, trade and science and technology. At present, it is difficult to estimate the economic impact on China. However, judging from the performance of the U.S. government, the economic and trade friction between China and the United States has further escalated.

Some companies are involved in listed companies. Huada gene (300676. SZ) and ofight (002456. SZ) share prices fell 5% and 3.73% respectively today, equipment manufacturing enterprise kongcheng group (603680. SH) closed down 5%, and carbon Yuan Technology (603133. SH), a graphite cooling film enterprise, rose 5% in the afternoon.