China Publishes Blocking Statute to Counteract Unjustified Extraterritorial Application of Foreign Legislation and Sanctions
By EsqSocial Corporation 15/01/21
The Blocking Statute provides the legal basis for refusing to recognize, implement, and comply with unjustified extraterritorial application of foreign legislations and sanctions that prohibit or restrict normal economic, trade, and related activities between Chinese Persons and Persons of other countries. A Chinese Person is required to report to MOFCOM any unjustified foreign legislation and sanctions within 30 days, and MOFCOM will make a decision whether to issue a Prohibition Order....
By: Pillsbury Winthrop Shaw Pittman LLP