China’s National People’s Congress on Thursday passed legislation to counter US and EU sanctions.
According to Reuters, the Standing Committee of the National People’s Congress of China passed the law while fourteen vice presidents were subject to US sanctions last year.
China passed a law to counter foreign sanctions on Thursday, responding to growing pressure from the United States and the European Union on trade and human rights.
Beijing has accused the US of “cracking down” on Chinese companies and threatened retaliation after US President Joe Biden last week expanded a blacklist of foreign companies in which Americans are barred from investing in the name of national security.
The countermeasures in the Chinese law include “denial of visas, entry or expulsion… and sealing up, seizing and freezing assets of persons or enterprises that adhere to foreign sanctions against Chinese enterprises or officials,” according to the text issued by the Standing Committee of the National People’s Congress, China’s top legislative body.