China vows to strengthen anti-sanctions laws as trade tensions persist

China’s Vice Premier He Lifeng said Beijing will resolutely defend its national interests and sovereignty in the face of external pressure in trade and finance, while outlining plans to institutionalise countermeasures against foreign sanctions.

He also stated that China intends to embed anti-sanctions provisions into its financial laws, vowing to counter what he described as unreasonable foreign suppression, Caliber.Az reports via foreign media. 

Speaking at a Shanghai forum on June 17, He highlighted explicit provisions in a draft financial law aimed at blocking and countering “improper unilateral sanctions.” Without naming any country, he said authorities would work to incorporate similar blocking and countermeasures into other financial legislation, expanding what he called China’s “financial legal toolbox.”

“Faced with suppression that ignores the facts and unjustified containment, China will never compromise or back down; we will resolutely defend our national sovereignty, security, and development interests in accordance with the law,” He Lifeng noted. “We will resolutely safeguard national financial security and uphold multilateralism and the rule of international law."

According to him, global conditions are becoming increasingly unstable, with geopolitical tensions rising and the international rules-based system under strain.

“The world is undergoing rapid changes, the political and economic landscape is undergoing a profound transformation, geopolitical conflicts are intensifying, and the international rules-based system is fragmented. The world economy is facing serious challenges, and global financial markets are constantly subject to shocks and turbulence,” said the vice premier.

By Sabina Mammadli