The Chinese State Council has approved legislation entitled “Measures for Blocking the Improper Extraterritorial Application of Foreign Laws and Measures”, which entered into force on 9 January 2021.
The measures are designed to protect Chinese companies from the effects of sanctions imposed by foreign governments. They provide that Chinese people and entities encountering foreign measures that prohibit or restrict their normal economic and trade activities must report to the State Council within 30 days. A failure to adhere to reporting requirements may result in a warning and/or a fine.
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