In a move that could have ramifications for U.S. "freedom of navigation" operations in the disputed South China Sea, Beijing is set to revise a key maritime law to bar some foreign ships from passing through Chinese territorial waters.

China's Legislative Affairs Office of the State Council announced Tuesday that it is soliciting public opinions on revisions to the country's 1984 Maritime Traffic Safety Law, the state-run Global Times newspaper reported last week.

China claims much of the South China Sea — through which $5 trillion in trade passes each year — as its territorial waters. The Philippines, Vietnam, Malaysia, Taiwan and Brunei also have overlapping claims.