Chinese Foreign Ministry spokesperson Lin Jian Photo: Chinese Foreign Ministry
China is strongly dissatisfied with and resolutely opposes the US latest move which lists China as a foreign adversary, and adopts various discriminatory measures to strengthen the restrictions on two-way investments with China using “national security” as the excuse in the latest US memorandum of investment policy, and has lodged solemn representations with the US, Lin Jian, a spokesperson from China’s Foreign Ministry said on Monday.
Lin made the remarks in response to a question asking China’s comments on the US memorandum of investment policy that tightens security scrutiny of Chinese investment in the US.
US President Donald Trump on Friday signed a memorandum directing the Committee on Foreign Investment in the United States (CFIUS) to curb Chinese investments in strategic sectors, including “technology, critical infrastructure, healthcare, agriculture, energy, raw materials, and others,” according to a fact sheet released on the White House official website on Friday.
The US tightened security review of Chinese investment in the US, which constitutes a serious blow to the confidence of Chinese enterprises to invest in the country, damaging the US’ own business environment. The increased restrictions on US investment in China is an artificial intervention in the independent decision-making of US enterprises, distorting the investment exchanges between the two countries, Lin said.
By shutting out Chinese enterprises and the Chinese market, the US is ultimately damaging its own economic interests and international credibility. China urges the US to abide by international investment and trade rules, respect the laws of the market economy, stop politicizing and weaponizing economic and trade issues, and stop undermining China’s legitimate right to development, Lin said, adding that China will take the necessary means to resolutely safeguard its legitimate rights and interests.
Regarding the US restrictive measures against China’s shipbuilding and other related industries, Lin said that the abuse of the Section 301 investigation by the US out of its domestic political needs is a serious violation of the WTO rules and a further undermining of the multilateral trading system. China is strongly dissatisfied with this and firmly opposes it. We urge the US to respect the facts and multilateral rules and immediately stop its wrongful practices, Lin noted, adding that the country will take the necessary means to defend its legitimate rights and interests.
Global Times