- Under sweeping legislation, the body will study options for dealing with foreign companies and individuals which implement Western bans
- Measures will include denial of visas or expulsion as well as the seizing and freezing of assets within China
China will establish a leading group to coordinate and enforce anti-sanctions measures in response to Western pressure over human rights, technology and trade, under a law passed on Thursday by the National People’s Congress Standing Committee.
The anti-foreign sanctions law , which came into immediate effect, outlines sweeping retaliation against any individuals, their families and organisations responsible for imposing foreign sanctions against China.
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China’s New Anti-Foreign Sanctions Law Sends A Chill Through The Business Community
Over the last three years, the U.S. and the European Union have imposed a series of sanctions on Chinese officials and companies. Now China has created a new legal tool to hit back.
Organizations with a foot in both the United States and China may face a tough choice going forward: By complying with American sanctions on China, they face the possibility of tough sanctions in China as a penalty for doing so.
On Thursday, Beijing passed a sweeping law designed to counter U.S. and EU sanctions on Chinese officials and major Chinese companies. Those involved in designing or implementing the U.S. and EU sanctions could find themselves or their family members denied visas to China. Their property in China may be seized, and any commercial transaction they attempt with a Chinese institution can be blocked.
“The law signals that when you have no standing or power to boss people around, then your law in the U.S. will get you nowhere in China,” says Wei Jianguo, a former commerce vice minister. “This law is like the ringing of a gong. It is a warning to the U.S.: You should be worried. China will not endure this treatment as easily as it once did.”
