Xinhua | October 30, 2024
China strongly opposes the U.S. final regulations on investment restrictions aimed at China, a spokesperson with the Ministry of Commerce said on Wednesday.
China has lodged solemn representations with the United States and reserves the right to take action, said the spokesperson in a statement published on the ministry's website.
The United States has overstretched the concept of national security to adopt discriminatory investment restrictive measures against China, which is a typical non-market practice, the spokesperson said.
The spokesperson noted that the U.S. restrictions target sectors like chips, AI and quantum computing. Most industries related to these fields are not connected to national security, yet they will all be affected by the U.S. ban.
This will disrupt normal economic and trade cooperation between Chinese and U.S. companies, harming the interests of businesses in both countries, the spokesperson said.
China has noticed that many U.S. business associations and companies have expressed concerns that U.S. investment restrictions against China will cause American companies to give up the Chinese market to competitors from other countries, severely damaging U.S. interests, the spokesperson stated.
It is hoped that the United States will respect market economy laws, properly define the boundaries of national security in economic and trade fields, and stop politicizing and weaponizing economic and trade issues, the spokesperson added.