On November 13, 2020, the Trump Administration issued Executive Order 13959, “Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies” (the “China Securities EO”), which aims to prevent US investors from financing the development of the People’s Republic of China’s military, intelligence, and security capabilities by prohibiting purchases of securities of certain “Communist Chinese military companies.” This development builds on US Government concerns over China’s civil/military fusion and access to US capital…
On October 29, 2020, the US Commerce Department’s Bureau of Industry and Security (“BIS”) issued a final rule (the “final rule”) amending the license review policy under the Export Administration Regulations (“EAR”) for items controlled for national security (“NS”) reasons when destined to China, Russia, or Venezuela. The amendments add Venezuela to the list of countries to which the policy applies and modify the policy to replace the reference to military capabilities with a new,…
From 13 to 17 October 2020, the 22nd Session of the Standing Committee of the 13th National People’s Congress (“NPC”) deliberated on the third review draft (草案三次审议稿) of China’s Export Control Law (“ECL”) before its final passage into law on 17 October 2020. The ECL will come into effect on 1 December 2020. This is the first comprehensive and consolidated export control law in China. Prior to the law’s enactment, export controls were imposed via…
On 19 September 2020, the Ministry of Commerce of the People’s Republic of China (“MOFCOM”) issued the Regulations on Unreliable Entity List (“UEL Regulations”), which take effect on the same date. While MOFCOM has not named any specific foreign entity to be included on the Unreliable Entity List (“UEL”), the UEL Regulations set out the principles for the implementation of the UEL system as summarized below. What entities will be included in the UEL?…