China will take steps to defend its companies following the U.S. telecoms ban. China has reacted against the U.S. Federal Communications Commission's ban of new Chinese telecommunications equipment sales. The commerce ministry stated on Thursday that it opposes the ban and pledged to take the necessary steps to protect the rights of domestic companies. Friday's ban by the Biden administration on import or sale of new telecommunications equipment made from China's Huawei Technologies (000063.SZ) was based on national security concerns. Biden urges Congress to stop a potential rail strike. Shu Jueting, spokesperson for China's commerce ministry, stated that China will…