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China passes export-control law following U.S. moves

No results matched your search Economy55 minutes ago (Oct 18, 2020 02:50AM ET) © Reuters. A Chinese national flag is seen at a port in Beihai SHANGHAI (Reuters) – China passed a law restricting exports of controlled items, allowing the government to act against countries that abuse export controls in a way that harm’s China’s…


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Economy55 minutes ago (Oct 18, 2020 02:50AM ET)

© Reuters. A Chinese national flag is seen at a port in Beihai© Reuters. A Chinese national flag is seen at a port in Beihai

SHANGHAI (Reuters) – China passed a law restricting exports of controlled items, allowing the government to act against countries that abuse export controls in a way that harm’s China’s interests, state media said.

The Xinhua news report late on Saturday did not name any target countries, but the United States last month angered Beijing with curbs on exports to Semiconductor Manufacturing International Corp (HK:), China’s biggest chipmaker, and it has taken various steps against Huawei Technologies Co and other companies.

China and the United States have clashed over issues including trade, human rights, technology and the new coronavirus, which was first detected in China.

The new Chinese law, passed on Saturday by the National People’s Congress Standing Committee, the country’s top legislative body, will take effect on Dec. 1, Xinhua said.

Controlled items include military and nuclear products, as well as other goods, technologies and services and relevant data, according to a statement on the National People’s Congress website.

It said the law was “formulated for the purpose of safeguarding national security and interests.”

In August, China’s commerce ministry issued a revised list of technologies that are banned or restricted for export.

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