Beijing will introduce sanctions against Raytheon Technologies Corporation Chairman and Chief Executive Officer (CEO) Gregory Hayes and The Boeing Company's Defense, Space & Security (BDS) President and CEO Ted Colbert over their and their companies alleged involvement in the United States arms sale to Taiwan, the Chinese Foreign Ministry said on Friday.

The announcement came shortly after the US Department of Defense confirmed the sale of weapons to Taiwan in the value of $1.1 billion.

The ongoing tensions between China and the island propelled the US to propose adopting the Taiwan Policy Act, which would enable Washington to provide Taipeh with military assistance more easily. China condemned the move.