China on Thursday passed a new law to counter foreign sanctions, as it looks to build its defences against rising US and EU pressure over trade and human rights.
\nBeijing has accused the United States of \u201csuppressing\u201d Chinese firms and issued veiled threats of retaliation after President Joe Biden last week expanded a blacklist of companies in which Americans are not allowed to invest.
\nCountermeasures in the Chinese law include \u201crefusal to issue visas, denial of entry, deportation… and sealing, seizing, and freezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials,\u201d according to the text published by the standing committee of the National People\u2019s Congress, China\u2019s top legislature.
\nThe restrictions can apply to family members of individuals who fall foul of Beijing.
\nThe law also allows the country\u2019s courts to punish companies that comply with foreign laws, and says that businesses or people in China do not need to comply with foreign restrictions.
\n\u201cThe law aims to firmly safeguard the sovereign dignity and core interests of the country and oppose Western hegemony and power politics,\u201d foreign ministry spokesman Wang Wenbing told a briefing.
\nChina has long complained about US sanctions and trade restrictions affecting Chinese companies, calling it an extraterritorial application of US law.
\nBiden has stepped up US criticism of Beijing in recent months over the theft of intellectual property, and alleged human rights abuses in Hong Kong and the restive Xinjiang region.
\nLast week, the White House expanded the blacklist of companies Americans are barred from investing in due to the firms\u2019 links to Beijing\u2019s military.
\nThe list of 59 Chinese firms that are off-limits to US investors from August 2 includes major telecoms such as China Mobile, video surveillance firm Hikvision, China Railway Construction Corp, and China National Offshore Oil Corporation (CNOOC).
\nChina\u2019s anti-sanctions law comes as Biden is pushing for a common approach to restrain China with allies in the Group of Seven, which meets at the weekend in Britain.
\nBiden\u2019s project to \u201cpush back against the Chinese government\u2019s economic abuses and coercion\u201d has had buy-in from Japan, South Korea and Australia, and the US president is now trying to get European leaders on board.
\nThe new countermeasures against those slapping sanctions on China is a \u201cprecise response\u201d against US attempts to forge a common front against Beijing, said an editorial in the state-run Global Times.
\n\u201cIt will act as a powerful deterrent against countries imposing sanctions,\u201d it said.
\n\u201cWe will not hesitate to fight back against forces that arrogantly challenge us and will continue to enrich our legal toolbox.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
China on Thursday passed a new law to counter foreign sanctions, as it looks to build its defences against rising US and EU pressure over trade and human rights. Beijing has accused the United States of \u201csuppressing\u201d Chinese firms and issued veiled threats of retaliation after President Joe Biden last week expanded a blacklist of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-197211","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-world"},"yoast_head":"\n