Thomson Reuters Regulatory Intelligence
Morrison & Foerster partner B. Chen Zhu was quoted in the article "Biden's advisory highlights that China remains a priority target for U.S. government action, say senior lawyers" published by Thomson Reuters Regulatory Intelligence on 28 July 2021.
According to Chen, even though Biden's advisory does not include any new or increased regulatory actions, the U.S. government's goals are to highlight what it deems to be emerging risks and to recommend increased due diligence when it comes to activities in Hong Kong.
Chen also suggested that the new Chinese blocking statute could potentially target individuals and businesses involved in carrying out China-related sanctions implemented by the U.S. or other foreign governments. "The Chinese blocking statute also expands the scope of civil claims available in Chinese court for parties harmed by a counterparty's compliance with U.S. or foreign sanctions," Chen said.
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