China has a new foreign relations law. Here's what it means for business

In strictly legal terms, the legislative changes don't increase the risk for foreign businesses in China, said Jeremy Daum, senior fellow at Yale Law School's Paul Tsai China Center.

BEIJING — For foreign businesses in China, geopolitics hold more sway than new Chinese laws, according to analysts.is a growing priority for the country. Two new laws, one on espionage and the other on foreign relations, took effect July 1. They contain catch-all phrases such as "state secrets" that are open to interpretation by local and central authorities.

High-level dialogue beyond the presidential level has only resumed partially this year with U.S. Secretary of State Antony Blinken's visit to Beijing, among others.

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