A legal milestone in China's foreign relations

The Law on Foreign Relations of the People's Republic of China came into effect on July 1, after being approved by the country's top legislature. The law, containing 45 articles in six chapters in total, is the first fundamental and comprehensive law governing the conduct of foreign relations in China's history. What exactly is this law about? How will it impact China's foreign affairs? And how may it affect other countries, especially major Western powers that have increasingly antagonized China?