On July 20, 2021, Mr. David Pan, a partner of Llinks, was invited by the American Chamber of Commerce in Shanghai, to have an in-depth sharing on the topic of "Detailed Explanation of Anti-Foreign Sanctions Law".
Based on the U.S. sanctions against China and China's legislation and law enforcement trends, Mr. Pan analyzed the promulgation background of the "Anti-Foreign Sanctions Law". He compared the "Anti-Foreign Sanctions Law" with the "Export Control Law", the "Provisions on the Unreliable Entity List" and the "Rules on Counteracting Unjustified Extra-territorial Application of Foreign Legislation and Other Measures", to discuss the legislative purpose.
Mr. pan interpreted the key provisions of the "Anti-Foreign Sanctions Law", explained the meaning of "discriminatory measures" and "interference in internal affairs", and analyzed the subjects affected by the Countermeasures List. In addition, Mr. Pan introduced countermeasures, judicial relief and other relevant provisions to provide opinions for enterprises.
Finally, based on the systems and legal responsibilities stipulated in the "Anti-Foreign Sanctions Law", Mr. Pan put forward compliance suggestions, and pointed out that there are still some provisions to be clarified. Enterprises should continue to pay close attention to the legislative and law enforcement trends, the promulgation of countermeasures lists, control lists and related administrative orders and measures. Mr. pan also reminded that multinational enterprises operating in China should abide by China's laws and regulations related to trade sanctions, conduct due diligence and risk assessment, and identify and prevent compliance risks as soon as possible.
