China's new cross-border anti-corruption law targets foreign probes, expands reach

China's draft law on combating cross-border corruption includes provisions to block extraterritorial investigations and retaliate against foreign anti-corruption enforcement, while establishing its own mechanism to police overseas assets. This marks a legal escalation in China's response to foreign jurisdiction over its entities, potentially increasing friction for multinational firms. The law's dual purpose—combating illicit flows and countering foreign interference—signals a more assertive legal posture with significant compliance implications for overseas businesses.