China passes law to counter foreign sanctions [Reuters]
ZTE CORP UNSP/ADR (ZTCOY)
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Source: Reuters
FILE PHOTO: The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter/File Photo Individuals or entities involved in making or implementing discriminatory measures against Chinese citizens or entities could be put on an anti-sanctions list by a “relevant department” in the Chinese government. Those on the list may be denied entry into China or be expelled from China. Their assets within China may be seized or frozen. They could be restricted from doing business with entities or people within China. The new law is China's latest and most wide-ranging legal tool to retaliate against foreign sanctions and is intended to give Chinese retaliatory measures more legitimacy and predictability, according to local experts. Foreign companies, however, worry about the dampening impact it might have on foreign investment. China's top legislature, the National People's Congress (NPC) standing committee passed the law on Thursday, according to state televisi
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