MOFCOM listed 14 EU entities on its dual-use export control list on July 24, barring Chinese exporters and third-country parties from supplying named goods to them. The move is in retaliation for the EU's 21st Russia sanctions package the prior day that named 14 mainland and Hong Kong companies. CXMT signed a $7 billion contract with ByteDance for five years of DRAM supply, locking in a major domestic AI buyer ahead of the memory maker's $8.6 billion Shanghai IPO on July 27. Q1 2026 revenue grew 719% year-on-year to $7.5 billion. Nearly 200 Silicon Valley firms opposed a potential U.S. ban on Chinese open-source AI models in a joint letter, after Treasury Secretary Scott Bessent said Washington may sanction Chinese firms conducting large-scale distillation attacks. Moonshot AI rejected the distillation claims, saying Kimi K3's gains come from architectural innovations, while Chinese analysts cast the threats as anxiety over China's AI progress.
On July 24, China's Ministry of Commerce (MOFCOM) named 14 European Union entities, led by Rafat Group, on its dual-use export control list, meaning goods with both civilian and military applications. Chinese exporters are barred from supplying those items to the 14 named entities, and third-country parties are barred from transferring PRC-origin goods to them. MOFCOM framed the listing as retaliation for the EU's 21st Russia sanctions package, released July 23, which named 14 mainland and Hong Kong companies. The announcement came less than 24 hours after the EU package; special-case export applications must be filed with the ministry.
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