{"text":[[{"start":7.9,"text":"China has linked its imposition of tough new supply chain rules to the war in Iran and a dispute over ports in Panama and warned they are “only the start”, raising tensions ahead of a summit next month between leader Xi Jinping and US President Donald Trump."}],[{"start":24.4,"text":"The new restrictions, announced this month, are designed to protect China’s supply chains against disruptions and foreign sanctions. They dramatically broaden the definition of what constitutes interference in the country’s commercial affairs and include harsh punishments for violators, such as exit bans."}],[{"start":42.5,"text":"“The scope of these regulations goes beyond trade and economic matters,” said Yuyuan Tantian, a social media account run by the Chinese Communist Party mouthpiece China Media Group. It added that the measures were only a “starting point”."}],[{"start":56.9,"text":"“More legislation is expected as China continues to refine its legal system for foreign-related matters,” Yuyuan Tantian said. "}],[{"start":63.3,"text":"It said actions, such as US threats to apply secondary sanctions on Chinese banks for involvement in purchases of Iranian oil and the annulment of Hong Kong company CK Hutchison’s port concessions in Panama, created “spillover risks” for Chinese companies. "}],[{"start":79.1,"text":"The measures threaten to inflame tensions just weeks before Trump is set to meet his Chinese counterpart in Beijing, where the leaders are expected to discuss extending a one-year truce in their trade war. "}],[{"start":90.39999999999999,"text":"China has almost tripled its new export controls in the past five years as it strengthened and formalised a retaliatory campaign against US moves to contain its high-tech advances in areas such as semiconductors."}],[{"start":102.44999999999999,"text":"Beijing announced two new sets of rules this month, known as orders 834 and 835, which aim to protect supply chain security and counter foreign attempts to exercise extraterritorial control over Chinese companies, for example through sanctions. "}],[{"start":118.35,"text":"The measures are part of an expanding web of Chinese regulations that can be used to punish companies that implement foreign export controls or other actions that block Chinese market access or restrict its ability to import essential goods. "}],[{"start":132.85,"text":"The rules are also intended to protect Chinese companies not only from being directly targeted but also from becoming collateral damage — or “splattered with blood” from foreign actions, the post said. "}],[{"start":145.7,"text":"“In the past, improper foreign jurisdiction could be transmitted into China through intermediaries such as businesses, banks, logistics companies and internet platform enterprises,” Yuyuan Tantian said. "}],[{"start":158.14999999999998,"text":"“Now, the rule explicitly tells these intermediaries that they cannot act as ‘mouthpieces’ or ‘executors’. This undermines the actual effectiveness of improper foreign jurisdiction at its source.” "}],[{"start":171.34999999999997,"text":"Analysts said the new rules were likely to increase tensions with China’s trading partners, who argue that the measures are proactive and not simply a response to similar actions by the US or Europe."}],[{"start":182.09999999999997,"text":"Yuyuan Tantian cautioned that the rules could be calibrated as needed to meet the foreign action in question, and that foreign extrajudicial measures would not automatically trigger retaliation."}],[{"start":192.79999999999995,"text":"China has used informal trade coercion for years, such as withholding rare earths critical for manufacturing from Japan in 2010, or punishing Australia by not buying its goods after Canberra called for an independent investigation into the origins of the Covid-19 pandemic. "}],[{"start":209.69999999999996,"text":"Some observers argued that the laws released this month were probably written well before the outset of the US-Israeli war in Iran, and could not be blamed on the conflict. "}],[{"start":218.79999999999995,"text":"The laws have sparked particular concern among multinationals because of the potentially harsh penalties, which include detaining employees based in China while violations are investigated. "}],[{"start":229.14999999999995,"text":"Multinationals should “reassess executive exposure” due to the rules, law firm Morgan Lewis warned in a note, adding: “Explicit criminal liability and exit bans significantly elevate personal risk for executives in China.”"}],[{"start":251.24999999999994,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1776814150_1945.mp3"}