China has expressed strong opposition to the United States’ newly implemented investment restrictions targeting its high-tech sector, warning that it will take countermeasures if necessary. The U.S. Treasury Department finalized a rule on October 29 aimed at preventing U.S.-based individuals and companies from investing in a range of advanced technologies in China.
A spokesperson for the Ministry of Commerce criticized the White House for expanding the definition of national security to justify these “discriminatory” measures, labeling them as typical non-market practices. The restrictions encompass critical areas such as semiconductors, artificial intelligence, and quantum computing, with the spokesperson noting that most affected industries do not pose genuine national security threats.
The ministry also highlighted concerns raised by various U.S. business associations and companies, which warn that these investment bans may push U.S. firms out of the Chinese market and harm American interests in the long run.
China hopes the U.S. will adhere to the principles of a market economy and refrain from politicizing economic and trade matters. The ministry emphasized the need for a favorable environment to foster China-U.S. economic and trade cooperation.