China has expressed its opposition the United States' strategy of unilaterally imposing sanctions on Chinese companies and individuals.

Officials said what the US did to Chinese businessman Li Fangwei was counter-productive and will just harm the current bilateral relations between the two countries on the anti-proliferation issue.

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Chinese Foreigh Ministry spokesman Quin Gang said China is seriously following the anti-proliferation export controls and will punish those who violate it.

The United States had put up a US$5 million reward for anyone who could provide leads on the whereabouts of Li Fangwei who is accused of supplying missile parts to Iran.

Washington said Li, using the alias Karl Lee, has been the target of US sanctions in the past for allegedly supplying parts of Iran’s ballistic missiles program.

The US is likewise targeting companies in China and Dubai for allegedly helping Iran evade weapons and oil sanctions.

Washington said the US$5 million bounty on his head forms part of his impending indictment on the charges of wire fraud, money laundering and bank fraud.

The Treasury Department and the Department of Justice have both offered the reward of US$5million for information that will lead to the arrest and conviction of Li.

In the indictment, the US accuses Li of using his numerous companies and networks in moving his millions of dollars  through US financial companies to conduct business in violation of the International Emergency Economic Powers Act (IEEPA) and the Weapons for Mass Destruction Proliferators Sanctions regulations which bans such actions.

The US said it is sanctioning eight of Li's companies in China, and that efforts are being undertaken to put pressure on Iran over its nuclear program.

Reports said Iran and other world leaders last November struck an agreement where Tehran will receive US$7billion in sanctions relief in exchange for applying restraint on its nuclear program.

A high-ranking Washington official, however, said Iran has been procuring supplies for its ballistic missiles even if it was in the middle of negotiating with world leaders.