Friday, November 26, 2021

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China’s legislature approves law against international sanctions

China’s legislature approves law against international sanctions

Beijing, Jun 10 (Prensa Latina) The National People's Congress of China (Parliament) on Thursday approved a law that protects domestic companies from unilateral sanctions by foreign governments, amid renewed tensions with the United States in the economic-commercial and technological aspect.
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Since early this week, the text has been under review by the Legislature, which described it as a necessary step because it guarantees Beijing a strong legal support and the tools to face the discriminatory stance from Washington and other Western powers.

The rule exempts China’s firms and individuals from recognizing and complying with actions considered unjustified and extraterritorial, and facilitates the presentation of claims for damages at Chinese courts.

The rules seek to counterattack in defense of China’s national security, sovereignty, development interests, as well as the rights of its citizens, legal entities and organizations, the report recently stated about the issue.

China took this step amid new friction with the United States, as the White House tightened last week its policy towards Beijing with restrictions on business with 59 corporations, included Huawei.

Some few months ago, Beijing adopted a mechanism to punish foreign companies and individuals deemed unreliable for engaging in acts that violate market principles by cutting normal transactions with their companies, organizations and citizens.

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