China’s anti-corruption law is going global. What does it mean for overseas firms?

China’s new draft law on combating cross-border corruption is as much a weapon against foreign interference as it is a tool against illicit financial flows, analysts say. The draft sets out ways to block extraterritorial investigations and to retaliate against foreign anti-corruption enforcement, drawing a firm legal boundary against foreign jurisdictions while establishing its own mechanism to police overseas assets. In doing so, legal specialists warn, Beijing is also creating a double-edged...