#AceFinanceReport – Oct.18: China passes export-control law following U.S. moves: 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, 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:
Chinas lawmakers have passed an ‘ Export-Control-Law ‘ allowing the government to act against abuse by other countries after US sanctions
Reuters Wire News, [Oct 18, 2020 at 09:19] https://t.me/reuters_news_agency/41217
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.
#AceFinanceDesk report ……………Published: Oct.18: 2020:
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