Spokesperson of the Ministry of Foreign Affairs Responds to Journalists' Questions on US President Biden's Signing of an Executive Order to Restrict Investment in China | US | Biden
Q: In the early morning of August 10th Beijing time, US President Biden signed an executive order to establish an outward investment review mechanism, restricting US entities from investing in China's semiconductor and microelectronics, quantum information technology, and artificial intelligence fields. What is China's comment on this?
Answer: The Chinese side is strongly dissatisfied and firmly opposed to the US's insistence on imposing investment restrictions on China, and has made solemn representations to the US side.
The United States, under the guise of national security, restricts American companies from investing in China, and promotes pan security and pan politicization. Its true purpose is to deprive China of its right to development, maintain its own hegemony and self-interest, and is a blatant economic coercion and technological bullying. This move by the United States seriously violates the principles of market economy and fair competition, seriously undermines the international economic and trade order, seriously disrupts the stability of global industrial and supply chains, and seriously damages the interests of China, the United States, and even the world business community. Its essence is to reverse globalization and de Sinicization.
The Chinese side urges the US to effectively fulfill President Biden's commitment not to "decouple" from China or obstruct China's economic development, stop politicizing, instrumentalizing, and weaponizing economic and technological issues, immediately revoke erroneous decisions, lift investment restrictions on China, and create a favorable environment for Sino US economic and trade cooperation. China will closely monitor relevant trends and resolutely safeguard its own rights and interests.