![]() With the likely development of an “outbound CFIUS” regime and the prospect of Chinese counter-sanctions, the need for accurate information on these points will only become more acute. ![]() The sanctions landscape is growing more complicated for China with increased scrutiny by the United States and other countries on Chinese trade with Russia, human rights violations, the civil-military technology overlap, and sanctions evasion with respect to other targeted regimes.sanctions, export controls, and other measures. Restrictions on data and information gathering activities will make it extremely difficult for companies to determine their exposure to forced labor in their supply chain, emerging dual-use technologies, and the Chinese military industrial complex-all of which come under the purview of U.S. These developments come at a time when access to corporate and financial data is critical for international companies with operations in China as they navigate an increasingly complex set of risks.Access to widely used databases such as Wind, Qichacha, and TianYanCha has been blocked to users outside of mainland China. Chinese authorities have targeted at least three international consulting firms since March 2023-Mintz Group, Bain & Company, and Capvision-accusing them of accessing secret and sensitive data on the country.In conjunction with raids on foreign businesses, these revisions signal a new willingness on the part of the Chinese government to act aggressively against foreign businesses and to restrict the information they can access. The revisions to the law extend the Chinese government’s powers over national security issues, which were already wide-ranging.The revisions, accompanied by raids on international businesses and new restrictions on access to information for foreign businesses and investors, are a symptom of further deterioration in the relationship between China and the West and have increased risks for foreign firms operating in China. ![]() ![]() Chinese lawmakers approved revisions to the country’s counterespionage law on 23 April 2023, broadening the definition of spying and banning the transfer of any information related to national security interests (which are not defined by the law). ![]()
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