In the News: Closely Watched Guangdong Anti-Foreign Sanction Case; Scrutiny of Chinese Investment Accounts; and EU Considers Legislation to Broaden Supply Chains

Chinese Wingtech sues Dutch subsidiary chipmaker Nexperia under Anti-Foreign Sanctions Law | Hong Kong instructs banks to tighten scrutiny of mainland Chinese investment accounts | European Commission proposes supply chain diversification rules in sensitive sectors.

By Jeffrey Tse

In the News: Closely Watched Guangdong Anti-Foreign Sanction Case; Scrutiny of Chinese Investment Accounts; and EU Considers Legislation to Broaden Supply Chains

Wingtech-Nexperia Dispute Escalates with Chinese Lawsuit Filed

Shenzhen-based Wingtech Technology is suing Dutch chipmaker Nexperia under China’s Anti-Foreign Sanctions Law amid a dispute regarding whether Nexperia is controlled by it or the Dutch government.

Wingtech is seeking a court order in Guangdong for the full “restoration of full control over Nexperia and RMB 8 billion (US$1.17 billion) in compensation.”

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