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Stock impact report

China Restricts Australian Coal Imports in Likely Retaliation to Huawei 5G Ban [Fortune]

BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP) 
US:NYSE Investor Relations: bhp.com/investor-centre
Company Research Source: Fortune
China Restricts Australian Coal Imports in Likely Retaliation to Huawei 5G Ban A major port in northern has reportedly banned coal imports from Australia — in a sign that Beijing may be flexing its economic muscles and warning nations not to bar its next-generation wireless technology. The indefinite coal restrictions at Dalian started this month and are part of an overall plan to cap imports into the customs region this year, Reuters reported, citing an unnamed Dalian Port Group official. ’s foreign ministry wouldn’t say if it was specifically targeting Australia, only that it regularly inspects coal imports for environmental reasons. The move may be a shot across the bows of Australia, which last year followed the U.S. in banning Chinese telecommunications giant Huawei Technologies Co. from its 5G network on security concerns. has said the concerns are unreasonable and warned other countries of unspecified consequences if they follow suit in blocking Huawei equipment. While Dalian Show less Read more
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