Australian companies in China are seeking advice on China’s new anti-espionage laws which experts warn increase the risk of doing business in the world’s second-largest economy.
, said he was not aware of Australian companies being targeted under the anti-espionage laws, which broadens the scope of activities considered to be spying. He said most companies would seek advice to make sure they were comfortable about managing risks.“Regulatory risk and investigations have always been a feature of the China market.
Corporate risk experts based in China who would previously speak to the media declined to comment on the record. One said they were not aware of a mass crackdown, but the business environment was “definitely not getting less complicated”. “There have been a number of developments over the past four or five years which have contributed to a lot of expats shifting out. Obviously COVID accelerated that, but everything from local tax law through to a range of new measures, cyber and so on, which have made it more difficult.
“Under Xi Jinping, the use of exit bans in China has noticeably increased. Although it is difficult to obtain exact data, this growth is indicated by indirect evidence such as the addition of at least four new laws authorising exit bans in the past four years and an almost eightfold rise in exit ban mentions on the Supreme People’s Court’s official database from 2016 to 2020,” Safeguard Defenders said in a report published last week.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australian govt plan for 715,000 migrants is going to ‘put pressure’ on people’s livesOne Nation Leader Pauline Hanson says the government bringing in 715,000 migrants to Australia is going to “put pressure” on people’s lives. “All they’re doing is propping up their economy with more migrants, it’s not helping the Australian people,” Ms Hanson told Sky News host Cory Bernardi.
Read more »
ASX LIVE: Australian shares poised to open higher, earnings in focusAustralian shares poised to rise; GQG inflows of $US5.4b this year; Lynas Malaysian licence valid until start of 2024; Westpac lifts dividend on profit jump. Follow updates here.
Read more »
Cost of living combo for Australian households to cost $14.6bHouseholds will gain $14.6 billion in federal help with expenses ranging from energy subsidies to healthcare as part of a budget agenda that seeks to drive down inflation and prevent rising prices eating into family incomes.
Read more »
Asia’s ‘thirst’ for Indigenous Australian art on full display in South KoreaThree Indigenous artists are representing Australia at the 2023 Gwangju Biennale, fascinating audiences who rarely see art from the world’s oldest living culture
Read more »
Sydney rivalry shows why derbies are the lifeblood of Australian football | Joey LynchFew A-League fixtures produce the pumping scenes and vibrant atmosphere that materialise when the city’s east meets west
Read more »