China firmly opposes U.S. suppression of Chinese enterprises

BEIJING, Nov. 16 (Xinhua) — China’s Ministry of Commerce (MOC) said on Monday it resolutely opposes the U.S. move to prohibit U.S. investments in some Chinese companies.

The United States disregarded the facts and deemed some Chinese companies as military-controlled ones, a move that lacked evidence and did not conform to legal principles, said an MOC spokesperson in response to a media query.

The United States has been repeatedly generalizing national security concept, abusing state power and imposing continuous suppression on certain Chinese companies, severely violating the basic principles of market competition that the United States has claimed to champion, as well as rules of international trade, said the spokesperson.

Economic cooperation between China and the United States is mutually beneficial in essence, said the spokesperson, adding that the interests of all countries are deeply intertwined in the era of globalization.

The Chinese capital market is becoming increasingly attractive to global investors including those from the United States, which reveals investors’ confidence in China’s steady and sound economic development and recognition of the country’s efforts in deepening reform and opening up in the capital market, the spokesperson said.

Some American people frequently use the so-called national security as an excuse to prevent U.S. investors from entering the Chinese market. This is not in line with the law of economic development and will only harm the interests of investors, said the MOC.

“Market forces cannot be suppressed by the actions of a few politicians,” the spokesperson said.

Chinese enterprises have always adhered to laws and regulations in their international operations and will continue to conduct mutually beneficial cooperation with other countries on the basis of respecting market rules and relevant laws, according to the MOC.

“China urges the U.S. side to stop its groundless suppression of Chinese enterprises, and provide a fair, just and non-discriminatory environment for their normal operations in the United States” the spokesperson added.

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