BEIJING: Beijing comes out strong in response to the United States policy in restricting investment in Chinese technology.
China has accused the US that this new policy can affect the global supply chain and China will go all out in safeguarding its interest.
United States President Joe Biden signed the executive order restricting certain US investment in high-tech sectors Wednesday which include semi-conductors, quantum computing and AI (Artificial Intelligence).
Chinese Foreign Ministry in retaliation to President’s Biden executive order vowed that China will protect its rights and interests.
Chinese Commerce Ministry in a separate statement strongly opposed US stating that its move would help anti-globalization and de-sinicization. The executive order from President Biden affects market economy besides disrupting global industry and supply chain management.
The Ministry statement also mentioned that China has the right to take measures but it never elaborated what counter measures are on the cards.
The executive orders with restrictions on investment from US firms will be effective next year.
President Joe Biden’s Executive Order
US President Joe Biden Wednesday signed the executive order banning certain US companies to invest in Chinese high-tech sector.
The investment is linked with the government’s approval and the areas that have been restricted for investments are semi-conductors, computer chips and Artificial Intelligence.
Three sectors in particular have been highlighted in the executive order as semiconductors, microelectronics, quantum information technologies and certain artificial intelligence systems.
