China on Monday expressed strong opposition to a law proposed by the US Treasury Department last Friday, which aims to restrict US investment in China, warning of “corresponding measures,” official Xinhua News Agency reported. “The US should respect the laws of the market economy and the principle of fair competition, and stop politicizing and weaponizing economic and trade issues,” China’s Ministry of Commerce said in a statement.
“While repeatedly emphasizing that it has no intention of “decoupling” from China or obstructing the country’s economic development, the US side has insisted on issuing the proposed law that restricts US companies from investing in China and suppresses the normal development of Chinese industries,” the statement said.
Describing the move as typical generalization of the national security concept, the ministry said it contradicts the important consensus reached by the two heads of state in San Francisco last November.
The ministry added that this step also affects normal economic
and trade cooperation between Chinese and US enterprises, disrupts the international economic and trade order, and disturbs the security and stability of global industrial and supply chains.
“The US side should lift restrictions affecting investment in China to create a favorable environment for China-US economic and trade cooperation,” it noted, warning that Beijing reserves the right to take corresponding measures.
Source: Kuwait News Agency