For the first time since the Rules on Counteracting Unjustified Extraterritorial Application of Foreign Legislation and Other Measures (the "Blocking Rules") were enacted in January 2021[1], China's Ministry of Commerce (“MOFCOM”) issued a formal blocking order, MOFCOM Announcement No. 21 of 2026, on May 2, 2026.[2] The order targets U.S. sanctions imposed on five Chinese refinery companies[3] in connection with alleged Iranian petroleum transactions. It prohibits Chinese entities from "recognizing, enforcing, or complying with" those U.S. measures.

In recent years, due to trade disputes and geo-political tension, compliance with foreign export control and sanction rules as well as China’s possible countermeasures become one of the key concerns for MNCs having operation in China. On April 7, 2026, the State Council of PRC issued the Regulations of the People’s Republic of China on Countering Foreign Countries’ Unlawful Extraterritorial Jurisdiction (the “State Council Countering Regulation”), which is the latest Chinese legislation in this area. Since then, we have already seen a few articles introducing the contents and impact of this new legislation on the internet.

On December 15, 2025, with the approval of the State Council, the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) released the Catalogue of Industries for Encouraged Foreign Investment (2025 Edition) (the "2025 Catalogue"). As the latest policy framework for directing foreign capital, the 2025 Catalogue will officially take effect on February 1, 2026, at which time the 2022 edition Encouraged Industries Catalogue for Foreign Investment (the "2022 Catalogue") will be superseded.

Since 2023, in the post-pandemic era, China's foreign direct investment (FDI) has declined under the combined pressure of geopolitical tensions, global economic uncertainty and domestic economic challenges. Data from the Ministry of Commerce of China (MOFCOM) shows that while the number of newly established foreign-invested enterprises (FIEs) rose steadily between 2023 to mid-2025, the actual utilization of foreign capital decreased.

Procedural orders in commercial arbitration is a series of orders issued by the arbitral tribunal in the form of a document relating to the arbitration proceedings for the purpose of administering the arbitration proceedings, which is binding on the parties involved in the arbitration and is designed to ensure that the proceedings are conducted in an efficient and orderly manner.

On 19th March 2024, the Chinese government announced the issuance of a notice titled "Circular of the General Office of the State Council on Issuing the Action Plan for Solidly Promoting High-level Opening-up and Increasing Efforts to Attract and Utilize Foreign Investment" (“Circular”).

Cross-border guarantees have become an increasingly common financial instrument, facilitating international transactions and providing security for business operations across different jurisdictions. However, the legal landscapes of each country can vary significantly, leading to unique challenges and considerations when it comes to cross-border guarantees. In this newsletter, we will explore the key aspects that foreign enterprises should be aware of when accepting cross-border guarantees from Chinese entities.

Cross-border listing is an important part of the internationalization process of the capital market. In 2019, China proposed the goal of capital market reform to be "market-oriented, rule-of-law-based, and internationalized." In 2023, the "Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies" and supporting rules were implemented, and the supervision of going overseas will officially enter a new era. For Chinese companies, the U.S. securities market is attractive due to its large scale, mature development, and well-established legal system, making it one of the preferred locations for companies to go public overseas. In this context, domestic companies are facing dual regulatory issues. This article will start with a comparison of the regulatory systems between China and the United States, and then analyze the system, model, and specific regulations for securities public law enforcement in both countries. It will analyze the similarities and differences between them, and provide suggestions for the dual regulatory compliance risks faced by participants in the securities market.

Cross-border listing is an important part of the internationalization process of the capital market. In 2019, China proposed the goal of capital market reform to be "market-oriented, rule-of-law-based, and internationalized." In 2023, the "Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies" and supporting rules were implemented, and the supervision of going overseas will officially enter a new era. For Chinese companies, the U.S. securities market is attractive due to its large scale, mature development, and well-established legal system, making it one of the preferred locations for companies to go public overseas. In this context, domestic companies are facing dual regulatory issues. This article will start with a comparison of the regulatory systems between China and the United States, and then analyze the system, model, and specific regulations for securities public law enforcement in both countries. It will analyze the similarities and differences between them, and provide suggestions for the dual regulatory compliance risks faced by participants in the securities market.

An Analysis on the Management Measures for Voluntary Greenhouse Gas Emission Reduction Trading (For Trial Implementation)

On August 3, 2023, the Cyberspace Administration of China (" CAC ") issued the draft Administrative Measures for Personal Information Protection Compliance Audit and the accompanying "Personal Information Protection Compliance Audit Reference Points" ("Audit Reference Points", collectively referred to as "PI Audit Measures") for seeking public comments.

The New Changes of China’s Foreign Investment Access Policy in 2022 —— Analysis on the latest edition of the Negative Lists for Foreign Investment Access and the similarities and differences between the free trade zone version and the national version on the foreign investment access policy