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Chinese Regime Introduces New Commerce Rules In Retaliation Against US Sanctions

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Chinese Regime Introduces New Commerce Rules In Retaliation Against US Sanctions

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China’s Ministry of Commerce issued new rules on Jan. 9 in a bid to counter sanctions and restrictions imposed by foreign governments against Chinese companies and individuals. According to an order on “unjustified” foreign legislation published on the Ministry’s website, it instructs Chinese entities to report within 30 days if they are affected by foreign laws that “improperly prohibit or restrict” Chinese citizens, companies, and organizations from conducting “normal economic, trade, and related activities with a third state or its citizens.” The commerce ministry will then determine whether the legislation impacts China’s “national sovereignty, security, and development interests.” If the foreign law is determined to be “unjustified,” China’s State Council can issue an injunction against “recognition, enforcement, and compliance” with the foreign laws. In addition, Chinese individuals and entities that suffer “significant losses” for non-compliance with foreign laws are entitled to receiving “necessary support” from Chinese authorities, according to the …

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