A company owned by FTSE 100-listed firm BAE Systems has been named as one of five US-related defence companies being put under sanctions by the Chinese government.
The subsidiary BAE Systems Land and Armaments is based in the US and provides combat vehicles and munitions. It was part of a recent $300m military aid package the US agreed last month for Taiwan in the run up to the latter's election on 13 January. Stock Spotlight: BAE Systems 'strategically positioned' to profit from rising defence demand A spokesperson for the Chinese Foreign Ministry said in a statement on Sunday (7 January) that the sanctions were "in response to these gravely wrong actions taken by the US", when asked directly about the aforementioned deal. They said the rece...
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