Commentary by Fan Yu – Fan Yu is an expert in finance and economics and has contributed analyses on China’s economy since 2015.
Foreign companies doing business in China will soon find their operating environment littered with economic roadblocks because of a series of new “anti-foreign sanctions” rules that China’s legislature rushed to pass on June 10.
The new rules were introduced as countermeasures against foreign nations enacting sanctions on Beijing. This development may put foreign organizations and individuals enforcing their home countries’ sanctions against China in a tough position going forward.
The new law expands the Chinese regime’s toolkit to fight back against sanctions and can be used in conjunction with the existing Unreliable Entities List of companies it created last year.
The measures are extensive and give the Chinese Communist Party (CCP) broad powers to sanction organizations and individuals complying with sanctions against China. So, what exactly can it do? The CCP could deny visas for, deport, and restrict travel for affected entities, seize properties they have within China, block business or personal transactions, put pressure on the target’s family members and associates, and any “other necessary measures” deemed appropriate by the regime.
Read the entire article at The Epoch Times