Web Desk: China will strengthen legal protections against unilateral foreign sanctions and expand tools to counter extraterritorial measures, Vice Premier He Lifeng said on Wednesday, as Beijing moves to reinforce its financial and corporate sectors amid escalating geopolitical tensions.
Speaking at the Lujiazui Forum in Shanghai, He said China plans to integrate blocking statutes and countermeasure provisions into forthcoming financial legislation. He added that the goal is to build a stronger legal framework to protect Chinese companies and financial institutions from what Beijing views as unjustified external restrictions.
He did not name specific countries, but emphasized that China would respond through legal channels to what it described as “groundless suppression and containment.”
“We do not provoke trouble, but we are not afraid of it,” He said. He further stated that China would “never yield or retreat” when confronted with actions that ignore facts, stressing that national sovereignty, security and development would be safeguarded under the rule of law.
The remarks came against the backdrop of heightened friction between Beijing and Washington over trade, technology and security issues.
Earlier this month, the United States expanded its export control and sanctions lists, adding major Chinese companies including Alibaba, BYD and Baidu, along with other firms, over alleged links to China’s military. Alibaba owns the South China Morning Post.
In a separate move, Washington also imposed sanctions on several Chinese independent refineries, most of them located in Shandong province, accusing them of purchasing Iranian crude oil and generating significant revenue for Iran’s military establishment.
China has repeatedly criticized such measures as politically motivated and damaging to global trade stability.
He said no single country should impose its domestic rules on others, warning that increasing reliance on unilateral sanctions undermines international economic cooperation.
He argued that protectionism and unilateral actions ultimately weaken global stability and are not sustainable in the long term.
“In the long run, unilateralism, protectionism and the law of the jungle lead nowhere,” he said.
Analysts say China’s planned legal reforms reflect a broader strategy to reduce vulnerability to external financial pressure and strengthen the resilience of its corporate sector in an increasingly fragmented global economic environment.
The proposed measures are expected to further formalize Beijing’s counter-sanctions framework as tensions with the United States and its allies continue to shape global trade and investment flows.
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