• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Bessent’s Treasury has troubling news for every taxpayer

July 13, 2026

Meta Shuts Down Feature Allowing Strangers to Use Your Instagram Pictures in AI Image Generator

July 13, 2026

Explosions Heard Across Iran, But U.S. Says No Strikes Launched

July 13, 2026
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Monday, July 13
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Texas Hispanics swung hard to Trump. A new poll shows they’re furious at his deportations.

    July 12, 2026

    The high-stakes, battleground Senate race that no one is talking about

    July 12, 2026

    Lindsey Graham’s Passing Is Another Stage In The Death Of Trumpism

    July 12, 2026

    How ICE melted from view at the World Cup

    July 12, 2026

    The secret to becoming a sporting superpower

    July 12, 2026
  • Health

    Caregiver cuts, pancreatic cancer, HHS vaccines: Morning Rounds

    July 13, 2026

    Eyes On Elevance Health, UnitedHealth For Continued Insurer Rebound

    July 13, 2026

    Kennedy presses ahead with plans to reduce antidepressant use

    July 13, 2026

    Lindsey Graham Cause Of Death, Aortic Dissection. An ER Doc Explains

    July 13, 2026

    Supporting Science Is An Act Of Patriotism

    July 13, 2026
  • World

    Explosions Heard Across Iran, But U.S. Says No Strikes Launched

    July 13, 2026

    Syria Arrests ‘ISIS-Linked’ Suspects in Damascus Bombings

    July 13, 2026

    Kim Jong-un Leads Meeting on Growing ‘Quality and Quantity’ of North Korea Nuclear Force

    July 13, 2026

    Iran Ceasefire is Over, But Talks to Continue

    July 13, 2026

    Texas Man Gets 40 Years for Leading Violent Online Child Exploitation Ring

    July 13, 2026
  • Business

    ATF Rule Could Cause Classic Showdown Between Mom And Pop Shops Versus Online Retailers

    July 10, 2026

    Costco Shows That You Can Build A Thriving Business With One Simple Trick (Pay Your Workers)

    July 9, 2026

    The Agency Elizabeth Warren Built Now Advances Trump’s Agenda

    July 9, 2026

    Meta To Shell Out Billions For New AI Data Center Outside US

    July 9, 2026

    How Big Banks Are Scheming To Jack Up Your Fees

    July 8, 2026
  • Finance

    Bessent’s Treasury has troubling news for every taxpayer

    July 13, 2026

    JPMorgan Chase, Goldman Sachs, Bank of America

    July 13, 2026

    Dellia Group mulls options after interest in fruit-snacks firm

    July 13, 2026

    He works two hours a month to make six figures a year — why he says ditching the 9-to-5 is ‘the ultimate power’

    July 13, 2026

    Mark Cuban has strong words on AI companies and job losses

    July 13, 2026
  • Tech

    Meta Shuts Down Feature Allowing Strangers to Use Your Instagram Pictures in AI Image Generator

    July 13, 2026

    LAPD Cuts Ties with License-Plate Camera Vendor over ‘Who Owns the Data’

    July 12, 2026

    Apple Lawsuit Accuses OpenAI of Stealing Trade Secrets in Massive Scheme

    July 11, 2026

    Bloomberg Claims Startup Co-Founded by Bill Gates’ Daughter Cheats on Sales Credit

    July 11, 2026

    Nobel Prize-Winning Chemist Leaves U.S. to Join Chinese AI Project

    July 11, 2026
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Here’s what it means for business
Finance

Here’s what it means for business

July 11, 2023No Comments5 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Here's what it means for business
Share
Facebook Twitter LinkedIn Pinterest Email

New Chinese laws on espionage and foreign relations took effect on July 1.

Vcg | Visual China Group | Getty Images

BEIJING — For foreign businesses in China, geopolitics hold more sway than new Chinese laws, according to analysts.

National security is a growing priority for the country. Two new laws, one on espionage and the other on foreign relations, took effect July 1. They contain catch-all phrases such as “state secrets” that are open to interpretation by local and central authorities.

Adding to the worries of those considering doing business in China is news earlier this year of three raids on international consulting firms with little public explanation.

In strictly legal terms, however, the legislative changes themselves don’t increase the risk for foreign businesses in China, said Jeremy Daum, senior fellow at Yale Law School’s Paul Tsai China Center.

Rather, he said, “the current international relations climate and competing political pressures may be making some businesses re-evaluate their cost-benefit analysis in accepting the risks of doing business in China.”

Mills: Yellen's visit to China is a way to build confidence between Washington and Beijing

U.S.-China relations have deteriorated over the last several years, after decades of increased engagement.

High-level dialogue beyond the presidential level has only resumed partially this year with U.S. Secretary of State Antony Blinken’s visit to Beijing, among others.

“The current environment lends itself to more occasions where a regulator or someone in the government in China may choose to take action that is non-transparent. That creates a risk for U.S. business,” said Michael House, partner at Perkins Coie and based out of offices in Beijing and Washington, D.C.

See also  Rivian, UPS, Coinbase and more

“And when there is no real opportunity for the two governments to talk about the reason for that action or at the government level try to get some better read on what’s motivated those kinds of actions, that becomes then detrimental for U.S. business when that kind of opportunity doesn’t exist,” House said.

When it comes to industries, he pointed out, advanced technology and its links to the military are a concern to the U.S. and China, while other sectors bear less risk.

The new laws

The new Espionage Law expands the “acts of espionage” definition to include “seeking to align with an espionage organization” and attempts to illegally obtain data related to national security, according to an English-language translation on China Law Translate, a website Daum founded.

The law also calls on “all levels” of government in China to educate and manage related security precautions, according to the translation.

The website’s translation of the Foreign Relations Law notes that foreign organizations in China “must not endanger China’s national security, harm the societal public interest, or undermine societal public order.”

Corporate disconnect

The Chinese approach [to national security] is more defensive and domestic while the U.S. understandings are very global.

Alex Liang

Anjie & Broad, partner

Michael Hart, president of the American Chamber of Commerce in China, said he’s brought up the corporate raids in his meetings with Chinese officials.

“This is one of the disconnects where we usually hear, is as long as you’re not doing anything illegal you have nothing to worry about,” Hart said. “But it’s unclear to us what these companies did that was considered illegal. We continue to call for more transparency.”

See also  Trump Admin Puts Kibosh On Foreign Nationals Getting Gov’t-Backed Small Business Loans

Blinken and U.S. Treasury Secretary Janet Yellen have both met with U.S. businesses in China during their visits this year.

Companies also face increased scrutiny on the U.S. side. A House committee delegation discussed China business in their meeting with executives of high-profile U.S. tech and media companies in California in April.

National security

The term national security has been increasingly cited by the U.S. and Chinese government in new restrictions for businesses over the last few years.

For businesses in China, the biggest concern is that everything from food to energy is given a security angle, Jens Eskelund, president of the EU Chamber of Commerce in China, said at a briefing in mid-June.

“That I think creates uncertainty about what are the exact borders between what falls under a security purview and something we can operate as normal businesses.”

Cultural and language differences also play a role.

“The Chinese approach [to national security] is more defensive and domestic while the U.S. understandings are very global,” said Alex Liang, partner at Anjie & Broad in Beijing.

“For example, China generally focuses on whether sensitive information is leaked across the border, while U.S. normally focuses whether its allies provide technology to its rivalries and certain target nations,” he said.

Read more about China from CNBC Pro

The role of law and the court system also have fundamentally different statuses in the U.S. and China. Beijing has been trying to build up its legal system in recent years, but the government is ruled by one party.

Perkins Coie’s House pointed out that since the U.S. courts are able to rein in what the enforcement part of the government is doing, a Chinese company could make a legal dispute about national security-driven actions — something difficult for a foreign company to do in China.

See also  Tesla Crushed Delivery Expectations. Here's What Wall Street Is Saying.

He said foreign businesses in China could also consider having more dialogue with their local regulators, so they have a better understanding of what a company is doing and how it’s contributing to the economy.

China’s Ministry of Commerce on Wednesday met with foreign pharmaceutical companies, and said it would hold regular roundtables with foreign businesses to support their operations.

Business Heres Means
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bessent’s Treasury has troubling news for every taxpayer

July 13, 2026

JPMorgan Chase, Goldman Sachs, Bank of America

July 13, 2026

Dellia Group mulls options after interest in fruit-snacks firm

July 13, 2026

He works two hours a month to make six figures a year — why he says ditching the 9-to-5 is ‘the ultimate power’

July 13, 2026
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Donald Trump Slams Rihanna Ahead of Super Bowl Halftime Performance: ‘No Talent!’

February 16, 2023

Bank of America most favored for activism defense in H1 2023 – LSEG data

September 7, 2023

Australia office vacancies edge up to highest level since 1990s

August 3, 2023

Factbox: Analysts guarded as AI-driven US stock rally faces earnings test

July 13, 2023
Don't Miss

Bessent’s Treasury has troubling news for every taxpayer

Finance July 13, 2026

Borrowing money is not a crisis by itself. Households do it for homes and cars,…

Meta Shuts Down Feature Allowing Strangers to Use Your Instagram Pictures in AI Image Generator

July 13, 2026

Explosions Heard Across Iran, But U.S. Says No Strikes Launched

July 13, 2026

Caregiver cuts, pancreatic cancer, HHS vaccines: Morning Rounds

July 13, 2026
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,399)
  • Entertainment (5,648)
  • Finance (4,169)
  • Health (2,463)
  • Lifestyle (1,897)
  • Politics (3,861)
  • Sports (4,853)
  • Tech (2,372)
  • Uncategorized (4)
  • World (5,623)
Our Picks

Spotify considering full-length music videos on app – Bloomberg News

June 30, 2023

The Load Board Is Busy Because Shippers Are Panicking — Not Simply Because the Market Recovered. Here Is the Difference That Matters.

May 15, 2026

Illegal Border Crossings in First 4 Months of Year Greater Than Populations of 6 States

May 22, 2023
Popular Posts

Bessent’s Treasury has troubling news for every taxpayer

July 13, 2026

Meta Shuts Down Feature Allowing Strangers to Use Your Instagram Pictures in AI Image Generator

July 13, 2026

Explosions Heard Across Iran, But U.S. Says No Strikes Launched

July 13, 2026
© 2026 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.