China issued new regulations to block its corporations and citizens from owning to follow “unjustified” foreign regulations and steps, in its most up-to-date riposte to U.S. limits on companies like ByteDance Ltd.’s TikTok.
The procedures on “counteracting unjustified extra-territorial application” of foreign legislation and other steps are productive promptly and let authorities to ban the imposition of other jurisdictions’ laws on Chinese entities when it deems them inappropriate, the Ministry of Commerce reported in a assertion on its web-site on Saturday. China’s move aims to safeguard “normal trade” and other functions, it claimed.
The new purchase will be enforceable in China but it will be tricky to use for things to do outside of the place, Nicholas Turner, a attorney at Steptoe & Johnson LLP in Hong Kong who specializes in economic sanctions, explained Saturday.
“It remains to be found no matter if things to do exterior of China will