China to counter ‘unjustified’ foreign trade and business laws – Fox Business

China’s Ministry of Commerce on Saturday published new rules for countering “unjustified” laws and restrictions imposed by foreign countries on Chinese companies and citizens, as economic relations between Beijing and Washington deteriorate.

The rules on “unjustified extra-territorial application of foreign legislation” were posted on department’s website and established a “working mechanism” to assess the legal implications of such incidents.

The commerce department will then assess a case for its potential violation of international law, impact on China’s sovereignty and national security, and impact on Chinese citizens.

Last year Washington, citing national security concerns, imposed restrictions on Huawei Technologies Co Ltd, a telecom and consumer hardware giant, that deprive it of critical components and threaten to cripple its smartphone business.

The New York Stock Exchange this week said it will delist three Chinese telecom companies following an order from U. S. President Donald Trump in November barring U. S. persons from investing in publicly traded companies Washington deems to be tied to the Chinese military.

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