In the News: China Counters Foreign Sanctions; More Chinese Securities Removals; and Revised Internet Rules

January 11, 2021 | BY

Vincent Chow

China prohibits compliance with foreign sanctions, rules targeting Chinese entities; FTSE Russell, MSCI, S&P Dow Jones drop Chinese telecom companies; and CAC releases revised internet regulation draft

China prohibits compliance with "unjustified" foreign sanctions

China has announced new rules barring companies from complying with certain foreign sanctions on China. On Jan. 9, China's Ministry of Commerce published the Rules on Counteracting Unjustified Extra-territorial Application of Foreign Legislation and Other Measures (阻断外国法律与措施不当域外适用办法). The rules came into immediate effect, and are designed to counteract "the impact on China caused by unjustified extra-territorial application of foreign legislation and other measures" (Article 1).

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