China Counters US Innovation and Competition Act with Anti-Foreign Sanctions Law

China Views US Innovation Competition Act as Ideologically Biased Law Targeting China as a Virtual Enemy
China's NPC Standing Committee Listens to Second Review Results of Anti-Foreign Sanctions Law

[Asia Economy Beijing=Special Correspondent Jo Young-shin] China's National People's Congress (NPC), the equivalent of the national legislature, is expected to soon pass the "China Anti-Foreign Sanctions Law." The U.S. Senate passed the "U.S. Innovation and Competition Act" the day before. This law, which includes $250 billion in support for technology development in advanced industries and manufacturing sectors, is called a China containment law targeting Chinese advanced companies.

China's state-run Xinhua News Agency reported on the 10th that Xian Chunyao, Deputy Director of the NPC Constitution and Law Committee, reported to the NPC Standing Committee on the second review results of the draft Anti-Foreign Sanctions Law.

[Image source=Yonhap News]

China's Anti-Foreign Sanctions Law is expected to include legal grounds for taking retaliatory measures if unfair sanctions are imposed by the Western camp, including the United States. It is also reported to include provisions for compensating losses caused by sanctions.

The spokesperson office of the NPC Standing Committee Legislative Affairs Commission stated, "Some Western countries have imposed sanctions on Chinese-related institutions, organizations, and individuals based on their own laws, violently interfering in China's internal affairs," adding, "The Chinese government has strongly condemned such hegemonic acts, and various sectors of society have expressed strong indignation." They continued, "China has repeatedly announced that it will take corresponding countermeasures against companies and individuals of the countries that imposed sanctions to safeguard national sovereignty, dignity, and core interests," explaining the necessity of enacting the Anti-Foreign Sanctions Law.

Chinese authorities also criticized the U.S. Senate's Innovation and Competition Act. The NPC Foreign Affairs Committee issued a statement the day before, saying the law passed by the U.S. Congress under the pretext of innovation and competition is a U.S. coercion stemming from Cold War thinking and ideological prejudice. The Foreign Affairs Committee further claimed that the U.S. Congress is emphasizing the threat of China to maintain global hegemony and that the U.S. law, which regards China as a "virtual enemy," is bound to fail.

Chinese media such as Xinhua News Agency, Global Times, and China CCTV reported that the China Anti-Foreign Sanctions Law will provide strong political support and guarantees to respond to discriminatory measures by the Western camp.

Global Times analyzed that the U.S. Innovation and Competition Act targets Chinese advanced companies and state-owned enterprises, arguing that China also needs to strengthen corresponding legal measures. It also warned that the U.S. Innovation and Competition Act will not bring new challenges to China but will instead only hinder global cooperation.

This content was produced with the assistance of AI translation services.