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New Guidelines for Implementing China’s Anti-Foreign Sanctions Law: What Foreign Companies Need to Know

2025-05-15
On March 23, 2025, the State Council released a new set of regulations guiding the implementation of China’s Anti-Foreign Sanctions Law (AFSL). The AFSL, which came into effect on June 10, 2021, was formulated to provide the Chinese government with a legal toolkit to counter what it deems discriminatory or restrictive economic measures taken against its companies or citizens. The law has been widely interpreted as a mechanism to counter economic sanctions and restrictions imposed by the US in the wake of the Trump administration’s aggressive economic policies, as well as similar actions taken by the EU and other regions.
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ASEAN Briefing

How Foreigners Can File Personal Income Tax Returns in Vietnam

05/15/2025

Filing personal income tax (PIT) in Vietnam is a legal obligation for many foreigners working or earning income in the country. Whether employed by a local company, investing in Vietnamese assets, or receiving rental income, foreign individuals are subject to specific tax rules and deadlines. In most cases, employers assist with filing, but it’s still essential to understand how the process works to ensure accurate reporting and avoid penalties.

India Briefing

India’s Semiconductor Sector: Tracking Government Support and Investment Trends

05/15/2025

On May 15, 2025, India approved its sixth semiconductor manufacturing facility, a joint venture between HCL and Foxconn, as part of the India Semiconductor Mission. According to the central government, five additional semiconductor units are already in advanced stages of construction.

Middle East Briefing

Oman’s New Foreign Investment Rules Explained

05/15/2025

Oman’s new foreign investment rules build upon the 2019 Foreign Capital Investment Law (FCIL), reinforcing the country’s commitment to becoming a premier investment destination in the region. The government now requires all foreign-owned businesses to employ at least one Omani national—a move to enhance local participation. We explore how these changes may impact investor dynamics and domestic-foreign business relations.

China Briefing

EU-China Relations After the 2024 European Elections: A Timeline

05/16/2025

EU-China relations play a crucial role in the global business landscape. The current circumstances, marked by geopolitical shifts, economic interdependence, and technological competition, contribute to the volatility and frequent adjustments in this relationship. In this timeline, we aim to capture key milestones and developments that shape EU-China ties.

ASEAN Briefing

Indonesia Plans to Shift Fuel Sourcing from Singapore

05/14/2025

Indonesia is shifting away from decades-long dependence on Singapore for refined fuel imports — a move that signals major changes in regional energy trade and national energy policy. With over 54 percent of its gasoline and diesel historically sourced from Singapore, the city-state has served as Indonesia’s dominant external fuel supplier.

Vietnam Briefing

Major Regulatory Updates in Vietnam Effective May 2025: What Businesses Need to Know

05/14/2025

Vietnam will implement several impactful policy changes beginning May 2025, marking a step towards the country’s broader economic reform and regulatory modernization agenda.

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ASEAN

Opportunities for Norwegian Education and Training Providers in Indonesia

05/16/2025

Explore strategic opportunities for Norwegian institutions in Indonesia’s vocational and higher education sectors.

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China

China Briefing

75 Years of China-Denmark Ties: Trends and Opportunities in Bilateral Trade and Investment

05/16/2025

The growing trade and investment relationship between China and Denmark not only reflects mutual economic interests but also highlights the complementary strengths of each nation.

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India

India Briefing

Capital Gains Reporting Revised Under New ITR Framework

05/16/2025

Explore key changes to ITR forms for AY 2025-26, including new capital gains reporting rules, LTCG exemptions, and form-specific updates announced by India’s income tax authority.

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Vietnam

Vietnam Briefing

Vietnam Provincial Competitiveness Index: Key Findings from the 2024 Report

05/16/2025

The 2024 Vietnam Provincial Competitiveness Index Report offers comprehensive insights into the evolving business landscape across Vietnam, highlighting how shifts in economic governance are impacting both domestic and foreign-invested enterprises.

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Middle East

Middle East Briefing

US President Trump’s Middle East Visit Unlocks Trillion-Dollar Trade and Tech Deals

05/16/2025

Trump’s Middle East visit in May 2025 catalyzes investments and tech partnerships across Saudi Arabia, UAE, and Qatar.

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