China incl. Hong Kong

Information as of: 31st August 2021

Latest Updates
UN  
US On the 3 June 2021 the US issued E.O. “Addressing the Threat from Securities Investments that Finance Certain Companies of the People's Republic of China”, which amends E.O. 13959 by expanding the scope to include  prohibitions on investments in Chinese surveillance technology firms and companies operating in the defense sector WEF 2 August 2021. The national emergency declared under EO 13936 was extended until 14 Jul 2022 in respect of Hong Kong. 
EU  
UK
 
Financial/Other Sanctions
UN
US EO 13936, Hong Kong Autonomy Act (HKAA), EO 13959. On 23 Dec 2020, Hong Kong was removed as a separate destination from China under the Export Administration Regulations (EAR). Hong Kong will now be treated as China and will be subject to the same licence requirements and exceptions as China.  E.O. “Addressing the Threat from Securities Investments that Finance Certain Companies of the People's Republic of China”,
EU
UK
 
Arms Embargo
UN
US Arms embargo applies to mainland China (since 1989) and Hong Kong (since 29 Jun 2020).
EU Arms embargo applies to mainland China sice 1989.
UK
Arms embargo applies to mainland China sice 1989. On 20 Jul 2020 UK extended arms embargo to include Hong Kong. 
Further Details
UN
US On 29 Jun 2020, the US arms embargo was extended to include Hong Kong. With effect from 14 Jul 2020, pursuant to EO 13936, sanctions were imposed on officials , including Carrie Lam, for undermining Hong Kong's autonomy and restricting the freedom of expression or assembly of the citizens of Hong Kong. On the same day, 14 Jul 2020, the Hong Kong Autonomy Act (HKAA) was signed into law and provides for the imposition of asset freezes and travel bans on designated entities, in addition to providing for secondary sanctions on Foreign Financial Institutions that engage in significant transactions for those entities designated. On 23 Dec 2020, Hong Kong was removed as a separate destination from China under the Export Administration Regulations (EAR). Hong Kong will now be treated as China and will be subject to the same licence requirements and exceptions as China. Effective 11 Jan 2021 EO 13959 prohibits US persons from purchasing or investing in any securities, including stocks, shares, funds, or other financial products in Chinese companies operating directly or indirectly in the US that OFAC or the Defence Dept have identified as “Chinese military companies” or their subsidiaries, regime listed as 'Chinese Military Companies Sanctions' by OFAC. On the 3 June 2021 the US issued E.O. “Addressing the Threat from Securities Investments that Finance Certain Companies of the People's Republic of China”, which amends E.O. 13959 by expanding the scope to include  prohibitions on investments in Chinese surveillance technology firms and companies operating in the defence sector WEF 2 August 2021. The national emergency declared under EO 13936 was extended until 14 Jul 2022. 
EU Arms embargo applied to mainland China since 1989.
UK
Arms embargo applied to mainland China since 1989. On 20 Jul 2020, the UK extended the arms embargo to Hong Kong, including the ban on crowd control equipment and any items that might be used for internal repression, lethal weapons and their components, military aircraft and helicopters, war vessels, armoured fighting vehicles and other weapons platforms.
This information has been collated by the International Underwriting Association of London and is intended as a guide only. The IUA does not accept any liability for the accuracy of this information.
This publication is intended to convey only general information about sanctions legislation and associated insurance coverage. It is not, and is not intended to be, a complete statement of the law relating to this area. It should not be relied on or be used as a substitute for legal advice in relation to any particular set of circumstances. Accordingly, IUA does not accept any liability for any loss which may arise from reliance on this information.