Beijing's revenge: China imposes economic and financial sanctions against Taiwan

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Beijing's revenge: China imposes economic and financial sanctions against Taiwan

Authorities The PRC also imposed sanctions on two Taiwanese foundations that allegedly smeared China, spread slander, and cooperated with the separatists.

Starting August 3, China will impose temporary restrictions on the import and export of certain goods from Taiwan. In particular, Beijing banned the supply of natural sand to the island and the import of two types of fish and citrus fruits from Taiwan. This was reported by the Ministry of Commerce of the People's Republic of China.

The reason for the temporary sanctions is not specified, however, some media outlets note that the steps taken by the Chinese government are related to yesterday's visit by Speaker of the US House of Representatives Nancy Pelosi.

According to the Washington Post, temporary economic sanctions will contribute to the crisis on the island. Observers believe that Beijing will put pressure on Taiwan's economy in the near future.

“China has a very wide range of tools to harm Taiwan. China sees the mistake of its adversary, it often intervenes aggressively to take advantage,” – noted in the administration of the White House.

For example, a ban on the supply of natural sand could cause serious problems for construction companies, as it is used in the production of glass and concrete, as well as in the construction of roads and infrastructure.

China has imposed sanctions on two Taiwan funds

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In addition to economic restrictions, the PRC government imposed sanctions against two funds in Taiwan for their support of “Taiwanese separatists and slandering China.” These are the Taiwan Democracy Foundation and the International Fund for Cooperation and Development.

According to the official representative of the Taiwan Affairs Office under the State Council of the People's Republic of China, Ma Xiaoguang, the organizations allegedly “denigrated” China and tried to influence the international community, undermining the principles “one China”.

According to the order, the PRC government banned cooperation between these funds and mainland Chinese companies that operate in the fields of energy, medicine, telecommunications, etc. Beijing notes that these commercial organizations provided funds to funds set up for property contributions.

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