China Passes Law To Counter Foreign Sanctions: Cabinet

Beijing has accused the United States of "suppressing" Chinese firms and issued veiled threats of retaliation after President Joe Biden last week expanded a blacklist of companies Americans are barred from investing in.

China passed a new law Thursday to counter foreign sanctions, as it looks to build its defences against rising US and EU pressure over trade and human rights. Beijing has accused the United States of "suppressing" Chinese firms and issued veiled threats of retaliation after President Joe Biden last week expanded a blacklist of companies Americans are barred from investing in. Countermeasures in the Chinese law include "refusal to issue visas, denial of entry, deportation... and sealing, seizing, and freezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials," according to the text published by the National People's Congress standing committee, China's top legislature. The restrictions can apply to family members of individuals who fall foul of Beijing.