China has passed a new law prohibiting sensitive technology-related exports under the guise of national security. This move by China can worsen the trade relations (especially technology exports) between America and China. China’s top legislative body, the National People’s Congress Standing Committee, on Saturday passed this rule, which applies to all companies in China, including foreign-invested companies. This new law will be effective from December 1.
The new law allows Beijing to “take reciprocal action” against countries that misuse export controls and pose a threat to China’s national security. According to the published excerpt of the new law, technical data is also included in the items covered under export control.
Beijing’s latest law has further fueled the war waged by US President Donald Trump against Chinese tech firms. The Trump administration banned tech giants Huawei and chipmaker Semiconductor Manufacturing Corp, including Tick Talk and WeChat, taking action against popular Chinese apps and major companies.
Beijing has stated that the new law has been prepared “to protect national security and interests”. The new law states, “If any country or region abuses export control measures to jeopardize the national security and interests of the People’s Republic of China, (this) law would permit reciprocal action against them.” is.” According to the law, the Chinese authorities will continue to change the list of export controls from time to time. Those who violate this law have been punished with 5 million yuan and the provision for cancellation of export license.
(This news has not been edited by the NewsBust team. It is published directly from the Syndicate feed.)