China strongly opposes U.S. proposed rule to restrict investment in China: spokesperson-Xinhua

BEIJING, June 24 (Xinhua) — China’s Ministry of Commerce on Monday expressed strong opposition to a rule proposed by the U.S. Treasury Department last Friday, which aims to restrict U.S. investment in China.

The United States should respect the laws of the market economy and the principle of fair competition, and stop politicizing and weaponizing economic and trade issues, the ministry’s spokesperson said.

While repeatedly emphasizing that it has no intention of “decoupling” from China or obstructing the country’s economic development, the U.S. side has insisted on issuing the proposed rule that restricts U.S. companies from investing in China and suppresses the normal development of Chinese industries, the spokesperson said.

Describing the move as typical generalization of the national security concept, the spokesperson said it contradicts the important consensus reached by the two heads of state in San Francisco, affects normal economic and trade cooperation between Chinese and U.S. enterprises, disrupts the international economic and trade order, and disturbs the security and stability of global industrial and supply chains.

The spokesperson noted that China reserves the right to take corresponding measures.

The U.S. side should lift restrictions affecting investment in China to create a favorable environment for China-U.S. economic and trade cooperation, the spokesperson said.  ■