Significantly, 28 Trump admin figures will be permanently barred from travel or doing business either on the Chinese mainland or Hong Kong.

"China announces decision to sanction 28 U.S. figures who it alleged to have severely violated China's sovereignty, including officials in the Trump administration, according to a statement from the Chinese foreign ministry," Bloomberg reports shortly after Biden took the oath of office Wednesday.

"Sanction forbids these people and their family members to enter China mainland, Hong Kong and Macau, and any entities associated with them won't be able to do business with China," the report added.

This will further include any companies associated with them; for example, companies which have a sanctioned individual on their board or in an executive capacity.