China says list of 'unreliable' foreign firms coming soon

China's Commerce Ministry will release a list of 'unreliable' foreign companies in the near future, in a move widely seen as a response to U.S. decision to put Huawei Technologies on a blacklist.

China's Commerce Ministry will release a list of"unreliable" foreign companies in the near future, a spokesman said Thursday, without giving a specific date.

Huawei has denied it might be forced to spy on behalf of China's ruling Communist Party and demanded that the U.S. and other governments produce evidence to back up their allegations. In Beijing, the Commerce Ministry issued a report Thursday emphasizing that China and the U.S. have both benefited from their trade ties, despite China's huge surpluses.

There has been no recent sign of progress on resolving the standoff between Beijing and Washington over U.S. demands that Beijing act to reduce the trade imbalance.

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