(ECNS)-- China strongly deplores and firmly opposes the memorandum issued by the U.S., which cites alleged national security concerns to label China as a “foreign adversary” and imposes discriminatory measures to tighten restrictions on two-way investments, Chinese Foreign Ministry spokesperson Lin Jian said at a press conference on Monday.
The tightening of security reviews targeting Chinese investments in the U.S. severely hits the confidence of Chinese companies in investing in the U.S. and what is being undermined is the business environment in that country, the spokesperson said.
He highlighted that the increasing restrictions on U.S. investments in China is a deliberate interference with the independent decision-making of U.S. companies and distortion of investments between the two countries.
By shutting out Chinese companies and the Chinese market, the U.S. will end up hurting its own economic interests and international credibility, he noted.
He urged the U.S. to abide by international investment and trade rules, respect the laws of market economy, stop politicizing and weaponizing economic and trade issues, and stop undermining China’s legitimate right to development.
We will take necessary measures to firmly safeguard our legitimate rights and interests, he said.
He stressed that the U.S. restrictions on China’s shipbuilding industry and other related sectors aimed to serve its political agenda at home. By doing so, the U.S. has abused Section 301 investigation, seriously violated WTO rules, and further undermined the multilateral trading system, he said.
He called on the U.S. side to respect facts and multilateral rules and immediately stop its wrongdoings.
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