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New Blocking Rules By China's MOFCOM Create New Risks For Chinese And Foreign Companies - International Law - Vimarsana News

New Blocking Rules By China's MOFCOM Create New Risks For Chinese And Foreign Companies - International Law

China's new Rules on Counteracting Unjustified Extraterritorial 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”) create a new framework to mitigate the impact of foreign legal measures, including economic sanctions and information requests, on Chinese economic and security interests. They are the latest among a series of regulations—including legislation promulgated in 2019 and 2020 restricting assistance with foreign criminal and civil proceedings and China's new sanctions and export controls regimes promul...

Source: mondaq.com
China's Ministry of Commerce Issues New Rules - Vimarsana News

China's Ministry of Commerce Issues New Rules

3.   Potential impact on the legitimate rights and interests of the citizens, legal persons, or other organizations of China; and 4. Other, unspecified factors. Where a determination has been made that foreign legislation or other measure is “unjustified,” MOFCOM may issue a prohibition order to prevent a Chinese Person from accepting, executing, or complying with the foreign legislation or measure. The Rules provide that a Chinese Person may seek an exemption from complying with a prohibition order by submitting a written application stating reasons in support of the exemption and the s...

China limits foreign laws' application to Chinese companies - Vimarsana News

China limits foreign laws' application to Chinese companies

China limits foreign laws' application to Chinese companies Out-Law News | 15 Jan 2021 | 10:09 am | China has introduced measures designed to block foreign laws or actions targeting Chinese companies and individuals. China’s Ministry of Commerce (MOFCOM) issued The Rules on Counteracting Unjustified Extra-Territorial Application of Foreign Legislation and Other Measures last week, with immediate effect. The Rules target foreign laws or measures which "unjustifiably prohibits or restricts" Chinese individuals, companies and other institutions ('Chinese persons') from conducting normal econo...

China Releases Rules to Address Extra-Territorial Applications of Foreign Laws | Jones Day - Vimarsana News

China Releases Rules to Address Extra-Territorial Applications of Foreign Laws | Jones Day

In Short The Development: China's Ministry of Commerce ("MOFCOM") released Rules on Counteracting Unjustified Extra-Territorial Application of Foreign Laws and Other Measures ("Rules") on January 9, 2021. Effective immediately, the 16-article Rules are aimed at safeguarding China's national sovereignty, security, and development interests, and protecting the legitimate rights and interests of Chinese citizens, legal persons, and other organizations ("Chinese Persons"). The Significance: Following a wave of export controls, sanctions, and other trade restrictions in Western countries target...

Foreign Ministry Spokesperson Zhao Lijian's Regular Press Conference on January 11, 2021 - Vimarsana News

Foreign Ministry Spokesperson Zhao Lijian's Regular Press Conference on January 11, 2021

Foreign Ministry Spokesperson Zhao Lijian's Regular Press Conference on January 11, 2021 2021/01/11   CCTV: State Councilor and Foreign Minister Wang Yi has successfully completed his visits to five African countries. How does China evaluate the outcomes? What's the significance of the trip on the future development of China-Africa relations?   Zhao Lijian: From January 4 to 9, State Councilor and Foreign Minister Wang Yi visited Nigeria, the Democratic Republic of the Congo (DRC), Botswana, Tanzania and Seychelles in continuation of Chinese foreign ministers' 31-year tradition of choosing ...