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China Says U.S. Investment Restrictions Are Self-Defeating

FILE PHOTO: Flags of U.S. and China are seen in this illustration picture taken August 2, 2022. REUTERS/Florence Lo/Illustration/File Photo

The United States’ self-imposed investment restrictions targeting at China are a typical act that hurts the interests of others without benefiting oneself, a spokesperson for the Ministry of Commerce said Thursday.

Shu Jueting made the comments at a press briefing when answering the question on U.S. President Joe Biden’s executive order limiting U.S. investments in China.

She said that the restrictions in the name of national security and de-risking, and its decoupling actions in the investment sector, severely affect the normal business decisions of enterprises, damage market rules and international economic and trade order, and disrupt the security of the global industry and supply chains.

Like what the U.S. business community worries about, self-imposed restrictions will put U.S. companies at a disadvantage in international competition and hinder technological advancement, which is self-defeating, Shu said.

The spokesperson expressed hopes that the U.S. side can match its words on not seeking decoupling or obstructing China’s development with actions, respect the laws of market economy and the principle of fair competition, and lift its investment restrictions on China to create a sound environment for business cooperation.