Beijing opposes Washington's ban on US investments in Chinese companies

Beijing-Sana

The Chinese Ministry of Commerce confirmed that it firmly opposes the US move to prevent US investment in some Chinese companies.

"The United States ignored the facts and considered some Chinese companies to be companies controlled by the military, a step that lacks evidence and does not comply with legal principles," Xinhua news agency quoted a ministry spokesman as saying today.

"The United States has repeatedly generalized the principle of national security, abused state power, imposed continuous repression on specific Chinese companies, and violated many times the basic principles of market competition that the United States claimed to support and violated international trade laws," he added.

Noting that economic cooperation between China and the United States is mutually beneficial, the spokesman said, "The interests of all countries are deeply intertwined in the era of globalization."

"The Chinese capital market is becoming more attractive to global investors, including those from the United States, which shows investor confidence in China's steady and sound economic development and their recognition of China's efforts to deepen reform and openness in the capital market," the spokesman added.

The Chinese Ministry of Commerce said that some Americans frequently use the so-called national security as an excuse to prevent American investors from entering the Chinese market, which does not comply with the Economic Development Law and will only harm the interests of investors.

The ministry said that Chinese companies have always abided by laws and regulations in their international operations, and will continue to establish mutually beneficial cooperation with other countries on the basis of respecting market rules and relevant laws.

"China urges the United States to stop the unfounded crackdown on Chinese companies and to provide a fair and non-discriminatory environment for their normal operations in the United States," the spokesman added.

A spokesman for the Chinese Foreign Ministry (Wang Wenbin), in commenting on reports about Washington's intention to impose a ban on American investments in Chinese companies linked to the military, called on the United States to stop its arbitrary suppression of investments, and said that the United States government is practicing a fierce distortion of the reputation of Chinese civil military integration and China. For its part, it will vigorously defend the rights and interests of Chinese companies.