China to counter ‘unjustified’ foreign trade and business rules

China’s Ministry of Commerce on Saturday published new guidelines for countering “unjustified” laws and limitations imposed by overseas countries on Chinese businesses and citizens, as economic relations involving Beijing and Washington deteriorate.

The policies on “unjustified more-territorial software of international legislation” were posted on department’s web page and recognized a “working mechanism” to assess the authorized implications of these types of incidents.

According to the notice, a Chinese man or woman or organisation that is limited by international laws from “engaging in usual economic, trade and related action with a third State or its citizens,” could report it to the commerce department in 30 days.

The commerce division will then assess a scenario for its possible violation of global law, influence on China’s sovereignty and national security, and influence on Chinese citizens.

When a citizen or other organisation “suffers sizeable losses” from non-compliance with overseas legislation, “relevant authorities departments may well give vital support”, the notice claims.

The Chinese authorities could possibly also enact “necessary counter-measures” in response.

The new procedures occur amid an ongoing backlash towards various Chinese providers from foreign governments, in particular the United States.

Final 12 months Washington, citing countrywide protection considerations, imposed restrictions on Huawei Technologies Co Ltd, a telecom and shopper components giant, that deprive it of essential components and threaten to cripple its smartphone business enterprise.

Social media giants ByteDance has also been caught in Washington’s crosshairs, when last autumn the Trump Administration tried to pressure it to sell the U.S. division of its well known app TikTok.

The New York Inventory Exchange this week explained it will delist three Chinese telecom providers following an purchase from U.S. President Donald Trump in November barring U.S. individuals from investing in publicly traded corporations Washington deems to be tied to the Chinese army.

The Trump administration is contemplating incorporating tech giants Alibaba and Tencent to a blacklist of firms allegedly owned or managed by the Chinese navy, two individuals common with the issue explained.
Resource: Reuters (Reporting by Josh Horwitz Modifying by Lincoln Feast)