Opinion: The Problem With China’s New Rules on Foreign Sanctions
Henry Chen is a senior partner at Dentons Shanghai Office. Previously, he was AP compliance director of Ford Motor Co.
Michael E. Zolandz is the chair of Dentons’ federal regulatory and compliance practice, and serves as the managing partner for Dentons’ Washington, DC office.
An overview
Drawing inspiration from the European Union’s legal practice, China has created a similar legal regime for counteracting the impact of foreign sanctions on Chinese persons. On Jan. 9, the Ministry of Commerce (MOFCOM) issued “Rules on Counteracting Unjustified Extraterritorial Application of Foreign Legislation and Other Measures” (the