China passes law to counter foreign sanctions

  • 2 months   ago
China passes law to counter foreign sanctions

REUTERS

China passed a law on Thursday to counter foreign sanctions, as it strives to resist U.S. and EU pressure over trade, technology, Hong Kong and Xinjiang.

Individuals or entities involved in making or implementing discriminatory measures against Chinese citizens or entities could be put on an anti-sanctions list by a "relevant department" in the Chinese government.

Those on the list may be denied entry into China or be expelled from China. Their assets within China may be seized or frozen. They could be restricted from doing business with entities or people within China.

 

The new law is China's latest and most wide-ranging legal tool to retaliate against foreign sanctions and is intended to give Chinese retaliatory measures more legitimacy and predictability, according to local experts.

Foreign companies, however, worry about the dampening impact it might have on foreign investment.

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