WPB: Chinese Premier Li Qiang has signed an order to implement new regulations aimed at strengthening the country’s countermeasures against foreign sanctions.
These regulations pertain to the enforcement of China’s Anti-Foreign Sanctions Law, which was passed in 2021. The law states that individuals or entities involved in imposing or enforcing discriminatory measures against Chinese citizens or entities can be placed on China’s counter-sanctions list.
Those on this list may be barred from entering China or expelled from the country. Their assets in China could be seized or frozen, and they may be prohibited from conducting business with Chinese individuals or entities.
The new regulations clarify which sectors may have restrictions on foreign individuals and organizations. These sectors include education, science and technology, legal services, environmental protection, economy and trade, culture, tourism, healthcare, and sports.
The regulations also outline the measures the Chinese government can take in response, including banning or restricting individuals and organizations from importing or exporting relevant goods and technologies.
In recent years, China has faced trade and investment restrictions in major Western markets. Since February, U.S. President Donald Trump has imposed an additional 20% tariff on Chinese goods and is expected to introduce further tariffs in early April.
In response, China has imposed counter-tariffs, restricted exports of certain resources—including rare earth elements—and launched investigations into foreign companies.
According to a Reuters report, the Anti-Foreign Sanctions Law provides China with another tool to push back against foreign governments that it sees as infringing on its right to economic development.
By Bitumenmag
China, Bitumen, Oil
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