China urges US to halt proposed expansion of outbound investment curbs
Beijing said the proposal would widen China-related curbs and reserved the right to take countermeasures, as Washington seeks to block U.S. capital from dual-use technologies.
- On Saturday, Beijing's commerce ministry urged the United States to stop expanding investment restrictions, warning that proposed rules on sensitive technologies would disrupt trade ties.
- The United States Treasury Department issued proposals on Thursday to update its outbound-investment security program, adding biotechnology to restricted sectors and expanding high-performance computing coverage.
- Treasury officials stated the measures aim to prevent American capital from supporting adversaries' development of dual-use strategic technologies that could threaten United States national security.
- Beijing's commerce ministry said the proposal "discriminatorily" widened China-related investment restrictions, and China reserved the right to take unspecified countermeasures against the move.
- The plan runs counter to the consensus reached by the countries' presidents, who have met twice in the past six months, Beijing argued, and would damage bilateral economic ties.
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18 Articles
China firmly opposed the proposal of the United States Department of the Treasury to expand and tighten restrictions on foreign investment in China, considering it discriminatory and excessive use of the concept of national security.
China urges US to halt proposed expansion of outbound investment curbs
BEIJING, Oct 24 (Reuters) - The Chinese commerce ministry urged the United States on Saturday to stop expanding restrictions on American investments in China, saying a proposed rule on sensitive technologies would disrupt trade ties.
China Opposes US Proposal to Tighten Investment Restrictions
China’s Ministry of Commerce criticized a US Treasury proposal to tighten restrictions on American investment in Chinese technologies by adding biotechnology, calling it discriminatory and warning of possible reciprocal steps.
The Ministry of Trade stated that the proposed restrictions contravene the “significant consensus” reached by the presidents of both countries
China's Ministry of Commerce urged on Saturday the United States to stop extending restrictions on US investment in China, stating that a proposed rule on sensitive technologies would disrupt trade links. The US Treasury Department issued proposals Thursday to update its external investment security program, adding biotechnology to the restricted sectors and expanding coverage [...]
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