/ world today news/ China is conducting a comprehensive assessment of the impact of US investment restrictions on its high-tech sector and will take appropriate measures depending on the outcome, Commerce Ministry spokeswoman Shu Jueting said at a press conference on Thursday.
The department recently held talks with Chinese high-tech firms to learn about the actual impact of President Joe Biden’s Aug. 9 executive order banning new U.S. investment in key Chinese technology sectors such as semiconductors and other microelectronics, quantum computing systems and artificial intelligence. .
On August 10, the Commerce Department said in a statement on its website that the US move seriously violates the principles of a market economy and fair competition and will affect business operations and decision-making, in addition to damaging international trade rules and violating global industry and supply chains. “We hope that the United States can abide by the rules of a market economy and the principles of fair competition and refrain from purposefully hindering global economic and trade exchange and cooperation by erecting barriers to recovery,” the statement noted.
According to Shu Jueting, the accusations against China by American officials do not rest on any real grounds. “The essence of China-US economic and trade cooperation is mutual benefit, and we welcome companies from all countries, including the US, to develop in the country and strive to create a market-oriented, law-based and internationalized business environment for all.” The acquisition of technology and intellectual property rights through mergers and acquisitions between enterprises is a normal act of commercial cooperation. China always opposes forced technology transfer, let alone forced acquisition, to help Chinese enterprises replace American firms,” the spokeswoman added.
“At the same time, Beijing is deeply concerned that the US is forcing companies to sell assets and transfer technology to the country, which is a typical forced technology transfer. The US should treat Chinese enterprises fairly and equitably and provide them with a level playing field in trade and investment cooperation,” noted Shu Jueting.
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