Beijing hit back against recent US restrictions targeting Chinese companies, saying it plans to ban Chinese firms and citizens from complying with foreign laws and sanctions it deems “unjustified,” reported the Wall Street Journal.
Beijing’s new rules, released Saturday, also allow Chinese companies to sue in Chinese courts those who comply with the foreign laws.
While the rules didn’t name any specific foreign laws or sanctions, they amp up pressure against US and other foreign companies with a footprint in China, possibly forcing them to choose between American or Chinese regulations, according to WSJ sources in the foreign business community.
The new rules are designed to block any foreign restriction that “unjustifiably prohibits” Chinese citizens or companies from “engaging in normal economic, trade and related activities with a third state or its citizens,” China’s Ministry of Commerce said.