To fight the unreasonable limits by foreign legislation, China’s Ministry of Commerce has freshly set new regulations.
As stated in the ministry’s announcement, any Chinese individual or organization, deprived by foreign legislation from involvement in usual business work with citizens or a third party, should inform the department in less than 30 days. The case will be assessed in the ministry office to see if there’s any violation, or any negative impact on the country’s security and citizens.
According to the notification, if any citizen or organization made considerable losses just due to a failure to follow foreign legislation, related departments will come over to support.
Amidst the pressure from some foreign countries, especially the U.S., on several Chinese firms, the country is geared up to neutralize the impact. Only a year ago, the U.S. restrictions on Huawei, the Chinese multinational technology company, posed a threat to the Chinese cellphone business. Also, ByteDance, the Chinese internet company, was another example which was impacted by the U.S. administration.