New Foreign Relations Law

CESCE, Country Risk

This July, two new laws have come into force, one on espionage and the other on foreign relations, which aim to strengthen Beijing's foreign capacity.

The new China Foreign Relations Law formalizes the increasingly assertive approach of Pekin regarding its global commitments, especially in relations with United States. It gives a veneer of legality to interference in the affairs of other countries and raises the threat level of Pekin at foreign organizations present in the country and those who have connections abroad.

The Chinese nationalist newspaper Global Times He described it as an enrichment of the country's legal instruments against "Western hegemony." While these new laws do not directly worsen the legal position of the foreign investment, are a new message that, despite recent statements in favor of companies, the business climate continues to deteriorate due to the drift of the geopolitical clash with Washington. The wording of the law, somewhat vague and full of anti-Western rhetoric, constitutes one more factor to dissuade foreign investors from continuing to make long-term bets on China, especially companies with close relations with China. U.S.

Source: CESCE

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