China vows new legal shield that could counter US sanctions and protect finance

China has vowed to strengthen legal protections against unilateral sanctions, according to Vice-Premier He Lifeng, as Beijing moves to build a robust legal shield for its financial system and companies facing rising geopolitical risks. Addressing the Lujiazui Forum in Shanghai on Wednesday, He said China would incorporate blocking and countermeasure provisions into upcoming financial legislation and expand legal tools to counter what it considers to be improper extraterritorial sanctions. “We...

By Sylvia Ma,Emma Ma