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Beijing rejects US restrictions on investments in China

Beijing, Jun 24 (Prensa Latina) China expressed concern and opposition to the recent restrictions announced by the United States to limit US investments.

The Ministry of Commerce stressed that Washington must respect the laws of the market economy and the principle of fair competition, and stop politicizing and weaponizing economic and trade issues.

“Although the United States has repeatedly emphasized that it has no intention of ‘decoupling’ from China or obstructing the country’s economic development, it has insisted on issuing the proposed rule that restricts American companies from investing in China and suppresses the normal development of Chinese industries,” a ministry spokesman said.

According to the spokesman, the measure constitutes a typical generalization of the concept of national security. It contradicts the two heads of state consensus reached last year, at the San Francisco summit.

For the Ministry of Commerce, this action “affects normal economic and trade cooperation between Chinese and American companies, disrupts the international economic and trade order, and compromises the security and stability of global industrial and supply chains.”

The United States Department of the Treasury issued a notice last Friday on the proposed regulation of investments by US companies and individuals in Chinese technologies.

If it goes into effect, the measure would prohibit transactions involving products such as semiconductors and microelectronics, quantum information technologies and artificial intelligence, which Washington considers a particularly serious threat to national security.