The Digital Source For China's Tech Innovation Since 2000

China Tech Buzz

Global News Impacting Chinese Tech

China Blacklists Lockheed Martin, Raytheon Over Taiwan Arms Sales

News Snapshot:

On Thursday, China imposed new sanctions against Lockheed Martin (LMT) and Raytheon (RTX) in retaliation for weapons sales to Taiwan. China's sanctions come after the U.S. last week banned several companies for their involvement in China's surveillance balloon program. Lockheed Martin stock and Raytheon stock edged down Thursday following the news. X China added the defense contractors to the country's list of unreliable entities, according to a statement from China's Ministry of Commerce. The sanctions ban Lockheed and Raytheon from engaging in import and export activities and prohibits them from making new investments in China which, by China's definition includes…

Other China Tech Buzz: