China’s Rare Sanctions Pushback Leaves Banks Caught in Crossfire

China has ordered its companies to ignore US sanctions, an unprecedented act of defiance that threatens to trap a vast banking sector in the crossfire as tension rises between the...

By Alfred Cang, Winnie Zhu, Nectar Gan · Bloomberg Markets

China has ordered its companies to ignore US sanctions, an unprecedented act of defiance that threatens to trap a vast banking sector in the crossfire as tension rises between the world’s largest economies.