BEIJING: China has said that Biden administration’s new policy to restrict US investment in China would disrupt the security of the global industrial chains, AFP reported on Thursday.
An unidentified Ministry of Commerce spokesperson said President Joe Biden‘s executive order seriously diverges from the global market economy and fair competition principles.
He said such an order would disturb companies’ normal functions and affect the international trade order.
He said China expresses serious concern about this development and reserves the right to take reciprocal measures,” the spokesperson said in a statement published by the ministry.
China Deplores US Investment Policy
Biden’s executive order asks the Treasury Department to restrict some US investments in China in sensitive high-tech sectors, including quantum computing, semiconductors, and artificial intelligence.
The restrictions, which are expected to be implemented next year, come as Biden administration looks to strengthen its position against China on military, economic, and technological fronts.
China hopes the US will avert obstructing global economic and trade exchanges and cooperation and avoid creating hurdles for the recovery of the world economy”, the Chinese commerce ministry spokesperson said Thursday. Ends
