China has vowed to strengthen legal protections against unilateral sanctions, according to Vice-Premier He Lifeng, as Beijing moves to build a robust legal shield for its financial system and companies facing rising geopolitical risks. Addressing the Lujiazui Forum in Shanghai on Wednesday, He said China would incorporate blocking and countermeasure provisions into upcoming financial legislation and expand legal tools to counter what it considers to be improper extraterritorial sanctions. “We...

Beijing’s long-standing efforts to reinvigorate the domestic economy continue to face headwinds, as the latest credit data points to persistently sluggish consumption and weak investment across China, with the tech sector standing out as a lone bright spot amid the central government’s push for innovation to reduce external reliance. New bank loans totalled 520 billion yuan (US$77 billion) in May, according to People’s Bank of China data released on Friday. The figure trailed the 620 billion...