In the News: The NDAA 2024 Provisions for China; China Amends Company Law to Regulate Shareholder Behavior; and China's Supreme People's Court Creates a Public Case Database

December 28, 2023 | BY

Brian Chan

The U.S. issues renewed national security legislation focusing on defense contracts with Chinese military companies; China amends its Company Law to strengthen the rights of shareholders; and China's top court set up a case database to standardize adjudication across the country.

Credit: Adobe Stock

|

The National Defense Authorization Act 2024 Provisions for China

On December 22, President Biden signed into law the "National Defense Authorization Act (NDAA) for Fiscal Year 2024". The NDAA for 2024 includes a number of critical provisions on China, and attempts to deny China access to U.S. funding and institutions. Most notably, Section 805 prohibits the Department of Defense (DOD) from entering into, renewing, or extending contracts for goods, services, or technology with entities identified as Chinese military companies operating in the U.S. Section 1045 terminates the authority to issue a waiver of limitation on use of funds to institutions of higher education hosting Confucius Institutes. Section 1313 requires an unclassified study on the Chinese defense budget and a comparative study on the defense budgets of China and the U.S. Section 5413 changes U.S. policy to end China's developing nation status in international treaties and organizations.

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]