China said on the 14th that it will sanction five U.S.-related subsidiaries of Hanwha Ocean. China plans to launch an additional investigation into whether certain countries and corporations have engaged in acts that harm the development of its shipping and shipbuilding industries.
China's Ministry of Commerce issued a statement that afternoon (local time) saying so. The targets are five of Hanwha Ocean's U.S. subsidiaries, including Hanwha Shipping. The sanctioned corporations are banned from transaction and cooperation with all organizations and individuals in China.
The ministry said, "The United States' implementation of a 'Section 301 investigation' into China's maritime, logistics, and shipbuilding sectors and its series of restrictive measures seriously violate international law and the basic principles of international relations, and seriously damage the legitimate rights and interests of Chinese corporations." The ministry said these subsidiaries supported and cooperated with related U.S. government investigative activities, harming China's sovereignty, security, and development interests.
The Spokesperson said the sanctions are "to protect the interests of the related businesses." The Spokesperson added, "We have launched an investigation into acts by the United States and some countries and corporations that harm the safe development interests of China's shipping and shipbuilding industries," and said, "The investigation will adhere to the principles of openness, fairness, and impartiality, and will fully safeguard the legitimate rights and interests of all stakeholders."
The Spokesperson said, "China's position is clear," adding, "If we fight, we will fight to the end; if they want dialogue, the door will always be open."