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China Has Slapped Economic Restrictions On Taiwan In Response To Pelosi's Visit


03/08/2022


China Has Slapped Economic Restrictions On Taiwan In Response To Pelosi's Visit
China restricted natural sand exports to Taiwan and froze imports of fruit and seafood goods from the self-governed island on Wednesday, as US House of Representatives Speaker Nancy Pelosi visited Taiwan in a trip criticised by Beijing. 
 
Chinese customs had blocked imports from 35 Taiwanese exporters of cookies and pastries since Monday in a warning shot ahead of Pelosi's visit. more info
 
According to Chinese customs data, China's imports from Taiwan totalled $122.5 billion in January-June, up 7.3 per cent from the previous year. Integrated circuits and electronic components were among the most frequently imported items.
 
Natural sand exports to Taiwan, which is frequently used in building and concrete, have been banned since Wednesday, according to China's trade ministry.
 
The move was based on rules and regulations, according to the ministry, who did not elaborate.
 
Due to environmental concerns, China banned natural sand supplies to Taiwan in March 2007. The ban was in effect for a year. According to official Chinese data, China supplied more than 90% of Taiwan's natural sand imports in 2007.
 
China also suspended imports of citrus fruit, chilled white striped hairtail, and frozen horse mackerel from Taiwan beginning Wednesday, citing pesticide residue found on citrus fruit, while traces of the new coronavirus were discovered on the packaging of several frozen fish items in June.
 
Seafood, coffee, dairy goods, drinks, and vinegar are among China's top food and agricultural imports from Taiwan.
 
Fish and other aquatic invertebrates were China's most important agricultural and food imports from Taiwan in January-June, totaling 399 million yuan ($59 million).
 
China restricted imports of grouper fish from Taiwan earlier this year, citing the discovery of illegal substances.
 
Beijing also halted pineapple, sugar apple, and wax apple shipments from the island last year, citing pest concerns.
 
China also threatened to take "disciplinary measures" against two Taiwan foundations it claimed were aggressively involved in pro-independence separatist operations.
 
The two foundations, Taiwan Foundation for Democracy and Taiwan Foreign Ministry's International Cooperation and Development Fund, will be barred from interacting with any mainland organisations, corporations, or individuals, according to Ma Xiaoguang, spokeswoman for China's Taiwan Affairs Office.
 
According to Xinhua, China will punish any mainland organisations, companies, or individuals who offer financial support to or serve the two foundations, and other actions will be implemented if necessary.
 
Furthermore, any transaction or collaboration between four particular Taiwanese corporations and mainland companies is prohibited due to their gifts to the two charities.
 
Executives from four Taiwanese businesses will be barred from entering mainland China: solar manufacturer Speedtech Energy Co., Hyweb Technology Co., medical equipment producer Skyla, and cold chain vehicle fleet management provider SkyEyes.
 
(Source:www.straittimes.com)