The Ministry of Commerce of China File photo: VCG
China expressed serious concern and firm opposition to the US' newly released proposed rules that would broaden restrictions on American investments in China, and a spokesperson for the Ministry of Commerce (MOFCOM) called the measures a "discriminatory expansion that politicizes economic ties and undermines global trade order."
"China takes note of the relevant developments," the MOFCOM spokesperson said on Saturday. "This is a typical case of overstretching the concept of national security. China will closely monitor subsequent developments and reserves the right to take corresponding measures." The proposed rules, issued by the US Treasury Department on Thursday local time for public comment, enlarged the scope of limits on outbound investment targeting China under the banner of national security.
MOFCOM said the move runs counter to important consensus reached by the two countries' leaders, disrupts normal business cooperation between Chinese and US companies, and harms the international economic and trade system.
The spokesperson stressed that China offers a vast market with enormous consumption and investment potential, adding that "investing in China is investing in the future." Restricting investment in China, the ministry argued, would not only damage bilateral economic cooperation but also hurt the interests of American companies themselves.
China urged the US to respect market economic principles, stop overstretching the notion of national security, and refrain from politicizing or weaponizing trade and economic issues, so as to create a favorable environment for China-US economic and trade cooperation.
Global Times
China expressed serious concern and firm opposition to the US' newly released proposed rules that would broaden restrictions on American investments in China, and a spokesperson for the Ministry of Commerce (MOFCOM) called the measures a "discriminatory expansion that politicizes economic ties and undermines global trade order."
"China takes note of the relevant developments," the MOFCOM spokesperson said on Saturday. "This is a typical case of overstretching the concept of national security. China will closely monitor subsequent developments and reserves the right to take corresponding measures." The proposed rules, issued by the US Treasury Department on Thursday local time for public comment, enlarged the scope of limits on outbound investment targeting China under the banner of national security.
MOFCOM said the move runs counter to important consensus reached by the two countries' leaders, disrupts normal business cooperation between Chinese and US companies, and harms the international economic and trade system.
The spokesperson stressed that China offers a vast market with enormous consumption and investment potential, adding that "investing in China is investing in the future." Restricting investment in China, the ministry argued, would not only damage bilateral economic cooperation but also hurt the interests of American companies themselves.
China urged the US to respect market economic principles, stop overstretching the notion of national security, and refrain from politicizing or weaponizing trade and economic issues, so as to create a favorable environment for China-US economic and trade cooperation.
Global Times
RELATED ARTICLES
