Home  Contact Us
  Follow Us On:
Advertising Advertising Free Newsletter Free E-Newsletter

China to Sanction Boeing, Raytheon, Lockheed
Published on: 2020-10-27
Share to
User Rating: / 0

WEAPON 01China will impose unspecified sanctions on Boeing Co.’s defense unit, Lockheed Martin Corp. and Raytheon Technologies Corp. after the U.S. State Department approved $1.8 billion in arms sales to Taiwan last week.

The sanctions will be imposed “in order to uphold national interests,” Chinese Foreign Ministry spokesman Zhao Lijian told reporters Monday in Beijing.

The action follows the State Department’s approval last week of $1.8 billion in sales of new weapons for Taiwan and submission of the package to Congress for a final review. The deals, and an earlier one involving Lockheed F-16 fighters, are taking place amid rising tension between the superpowers ahead of the U.S. election next week.

WEAPON 02The new package includes 135 SLAM extended-range land attack missiles from Boeing, Himars mobile artillery rocket systems from Lockheed, and Raytheon surveillance and reconnaissance sensors to be mounted on aircraft.

Boeing fell 3.7% to $161.11 at 11:32 a.m. in New York as the broader market slumped on concerns about rising coronavirus cases. Lockheed dropped 2.7% to $364.24, while Raytheon declined 3.7% to $60.23.

Boeing’s 50-year relationship with China in aviation has helped the country’s “safe, efficient and profitable aviation system to keep pace with the country’s rapid economic growth,” the company said by email. Boeing sells civilian aircraft such as the 787 Dreamliner and 737 Max to Chinese airlines.

WEAPON 03”It’s been a partnership with long-term benefits and one that Boeing remains committed to,” Boeing said.

Raytheon, which makes Pratt & Whitney jet engines and other aeronautics equipment, also touted its connections to China’s civil aviation industry. “We remain committed to its success,” the company said by email.

Raytheon and Lockheed noted as well that foreign military sales are government-to-government transactions, made in cooperation with U.S. authorities. Lockheed said its presence in China is limited.



Comments (0)Add Comment

Write comment

security code
Write the displayed characters

    Subscription    |     Advertising    |     Contact Us    |
Address: Magnetic Plaza, Building A4, 6th Floor, Binshui Xi Dao.
Nankai District. 300381 TIANJIN. PR CHINA
Tel: +86 22 23917700
E-mail: webmaster@businesstianjin.com
Copyright 2020 BusinessTianjin.com. All rights reserved.