/ world right this moment information/ The China Council for the Promotion of Worldwide Commerce (CCPIT) known as on the US to respect the legal guidelines of the market economic system and the precept of honest competitors in a latest assertion concerning the funding restrictions introduced by Washington in relation to China. The assertion stated the transfer would threaten regular enterprise exchanges between the 2 international locations and the safety and stability of worldwide industrial and provide chains.
US President Joe Biden signed an govt order on August 9 banning new US funding in China protecting key expertise sectors reminiscent of semiconductors and different microelectronics, quantum computer systems and sure synthetic intelligence functions. Later, in mid-August, the U.S. Treasury Division launched a proof of the particular legislative plans for the manager order and opened a 45-day public listening to, with a September 28 deadline for feedback.
The China Chamber of Worldwide Commerce (CCOIC) has despatched official feedback on behalf of the Chinese language enterprise group, hoping that the US authorities will hearken to the rational voices and thoroughly contemplate the related guidelines, based on a spokesman for the chamber. China is an indispensable a part of international industrial chains within the fields of semiconductors, synthetic intelligence and quantum data expertise. The restrictions will hurt American firms in worldwide competitors, impede technological progress and finally undermine US pursuits, the spokesman added.
In early August, China’s Overseas Ministry described the funding restrictions as “financial coercion” and “technological harassment,” urging Washington to right away carry them, whereas pledging to firmly defend the nation’s rights and pursuits.
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