In the News: Anti-Sanctions Law; Data Security Law; Shenzhen Finance Opening-Up

June 15, 2021 | BY

Vincent Chow

NPC adopts anti-foreign sanctions law in response to U.S., European restrictions; NPC adopts data security law with significantly increased penalties for illegal cross-border data transfer; and Shenzhen five-year plan promises greater financial services opening-up

NPC adopts anti-foreign sanctions law to counter "discriminatory measures"

China has enacted a new law to counter foreign sanctions, most notably U.S. and European measures from export controls to technology restrictions. On June 10, the National People's Congress adopted the PRC Countering Foreign Sanctions Law (中华人民共和国反外国制裁法).

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