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China's New Anti-Foreign Sanctions Law: How Businesses Should Prepare

2021-08-03
On June 10, 2021, the National People’s Congress Standing Committee passed the Anti-Foreign Sanctions Law, just two days after the body announced that the draft was undergoing a second round of revisions. Policymakers hastily passed the Law in the context of sanctions placed by the US, EU, UK, Canada, and others on Chinese officials and organizations. Businesses are assessing their risks following the passing of China’s Anti-Foreign Sanctions Law, as political and economic tensions rise. We examine the scope of the Law.

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Silk Road Briefing

How China Structures The Terms & Conditions For Its Belt & Road Loans

08/05/2021

China's lending practices have been subjected to a great deal of misinformation over the years. However, China's lending contracts are not much different from those offered by other sovereign creditors. There are differences in that they do not as a matter of unspoken policy seem to be tied to any underlying political criteria, and neither does China make any special exemptions for lower income countries in terms of placing a higher rate of return on loans as a criterion for a higher risk.

China Briefing

Applying For Foreign Permanent Residency In China

08/04/2021

Foreigners’ permanent residency in China has been a hot topic in recent years as relevant policies are making the application process more attractive and flexible in first-tier cities like Beijing and Shanghai. China intends to make a regulation integrating all the policies and unify their nationwide implementation rather than continue to have regional and localized polices.

Vietnam Briefing

Maintaining Business Operations During Vietnam's Fourth Covid Wave

08/05/2021

As the fourth wave of the covid pandemic hits Vietnam, the government has issued directives to ensure isolation and maintain production to ensure dual goals of containing the pandemic while ensuring economic activity. While businesses are facing challenges, many have adopted these measures to ensure they can maintain production despite lockdowns and movement restrictions. We examine how businesses can maintain production while looking to the future and adapting to a new normal.

India Briefing

A Guide To India's Special Economic Zones

08/03/2021

Special economic zones (SEZs) in India are areas that offer incentives to resident businesses. SEZs typically offer competitive infrastructure, duty free exports, tax incentives, and other measures designed to make it easier to conduct business. Accordingly, SEZs in India are a popular investment destination for many multinationals, particularly exporters.

China Briefing

China And Afghanistan: Bilateral Trade Relationship And Future Outlook

08/04/2021

Afghanistan shares a 90 km border with China at the end of the Wakhan Corridor in the northeast of the country and is an important participant in the Belt and Road Initiative (BRI). Afghanistan is home to some of the largest untapped reserves of rare earth metals in the world, which China wishes access to. Afghanistan’s peace and stability is thus of great interest to China.

ASEAN Briefing

Thailand And The EU Resume Free Trade Negotiations

08/04/2021

Thailand and the European Union have agreed to resume negotiations on a free trade agreement, seven years after talks collapsed in 2014. If the two sides complete a deal, it would mark the EU’s third FTA with an ASEAN member state, following agreements with Singapore and Vietnam. An FTA would boost the EU’s access to trade and investment in Southeast Asia’s second-largest economy, while Thai exporters would benefit from lower tariffs.

The Bigger Picture

Russia Briefing

Russia-North Korea Bilateral Trade Set To Resume

08/05/2021

Russia and North Korea are to resume trade as soon as borders reopen between the two countries, the Russian Embassy in Pyongyang said yesterday. North Korea closed its borders in January 2020.According to Russian customs, trade between the two countries dropped by 10.8% year-on-year to US$42.74 million in 2020.

Silk Road Briefing

China And Its Existing & Upcoming Belt & Road Free Trade Agreements

08/03/2021

Discussing the Belt and Road Initiative at a recent webinar, Chris Devonshire-Ellis, Chairman of Dezan Shira & Associates, provided a comprehensive overview which included China and Hong Kong zero tariff trade agreements, preferential treatments for Hong Kong investments into China, and other intelligence regarding upcoming China-BRI free trade areas. That presentation can be viewed in full here.

Russia Briefing

How Russian And EAEU Businesses Can Access The US$25 Trillion RCEP East Asia Free Trade Agreement

08/04/2021

Although Russia nor any of the EAEU member states are signatories to RCEP, there are indirect ways in which such businesses can access this market through the back door. This is because Russia, and the Eurasian Economic Union have signed Free Trade Agreements with two of the member states of RCEP in Singapore and Vietnam, is negotiating free trade tariff terms with China, has negotiations underway with several other RCEP members and possesses double tax treaty agreements with nearly all the others.

Silk Road Briefing

China: The Great Middle-Man Services Developer

08/02/2021

The Belt and Road Initiative is moving from an infrastructure build to a cash flow generator. While goods will in future come from a wider variety of sources than China – such as Vietnam, Indonesia, Pakistan, or Egypt – the infrastructure middleman providing the services will be Chinese. It is a great business model – pretty much sustainable cash-flow revenues all the way – and ultimately paid for by European and other global consumers.

Our firm Dezan Shira & Associates provides legal, tax and operational advisory across Asia.
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The Problems With The West’s Understanding Of China

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ASEAN

Thailand Issues Latest US$1.3 Billion Stimulus Package

08/05/2021

Thailand issued its latest stimulus package valued at 42 billion baht (US$1.3 billion), which provides financial assistance to businesses and people.

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China

China Joint Venture: 7 Considerations to Reach a Successful JV Agreement

08/05/2021

A China joint venture is becoming the market-entry strategy of choice for many foreign investors since the COVID outbreak. We list some best practices.

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India

New Tax E-Filing Deadlines in India: Check List to See if it Applies to You

08/04/2021

India extends e-filing due dates for specific forms under Income Tax Act, 1961. We list the forms affected and new tax reporting deadlines.

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Vietnam

US - Vietnam Reach Agreement on Currency, No Tariffs Imposed

08/03/2021

Vietnam reached an agreement with the US regarding its practices on currency, marking an end to the dispute, and for Vietnam no threat of tariffs.

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Russia

Russia Briefing

Russia-North Korea Bilateral Trade Set To Resume

08/05/2021
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Belt and Road Initiative

Silk Road Briefing

How China Structures The Terms & Conditions For Its Belt & Road Loans

08/05/2021
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Asia Briefing publishes articles, magazines, and guides on doing business in Asia.
It has been produced by Dezan Shira and Associates since 1999.

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