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China Responds With New Rules Against "Unjustified" Foreign Measures Against Its Companies

2021-01-09T14:50:15.735Z


China introduced new rules on Saturday, January 9 to counter laws and measures deemed " unjustified " that other countries could apply to its businesses and citizens, against a background of worsening tensions with the United States. These rules are aimed at " protecting the rights and legitimate interests " of Chinese businesses and citizens and safeguarding the country's interests, the commerce


China introduced new rules on Saturday, January 9 to counter laws and measures deemed "

unjustified

" that other countries could apply to its businesses and citizens, against a background of worsening tensions with the United States.

These rules are aimed at "

protecting the rights and legitimate interests

" of Chinese businesses and citizens and safeguarding the country's interests, the commerce ministry said.

Read also: China, new epicenter of world cinema

They come at a time when Chinese companies are under increasing pressure abroad, especially from the United States.

Washington has notably imposed restrictions on telecommunications giant Huawei, blocking its access to essential US components.

Outgoing US President Donald Trump also issued an executive order in November prohibiting Americans from investing in Chinese companies suspected of supplying or supporting the Chinese military.

He has also just signed an order to ban transactions involving several applications linked to Chinese companies.

Read also: The agreement with China, a snub to Joe Biden

The new Chinese rules provide for the establishment of a mechanism to counter "

unwarranted extraterritorial application of foreign laws and measures

".

While remaining vague, they stipulate that Chinese officials and companies will be able to retaliate against those who comply with sanctions imposed by foreign countries.

In particular, Beijing could issue orders stipulating that companies must not comply with certain foreign restrictions, which could put groups operating globally in a complicated situation.

Especially since Chinese companies that suffer losses due to the respect of these laws by another party will be able to sue for damages in Chinese courts.

Businesses and citizens, if they face restrictions due to foreign rules that prevent them from engaging in "

normal economic, trade and related activities

", must report it to the authorities within 30 days.

Source: lefigaro

All news articles on 2021-01-09

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