Beijing: US restrictions on investment in China "disrupt" global supply chains

Beijing has deemed the new American measures to restrict investment in Chinese technology as having "severely disrupted" the security of global supply chains.

A spokesperson for China's Ministry of Commerce viewed the US President Joe Biden's executive order on this matter as "seriously deviating from the market economy and the principles of fair competition that the United States has long advocated for (...), and it seriously harms the international trade system, strongly disrupting the security of global manufacturing and supply chains."

China expressed its "deep concern" about this and reserved the right to take actions, according to a statement released by the ministry that did not specify any specific retaliatory actions.

President Biden issued an executive order directing the US Treasury Department to restrict some American investments in China's highly sensitive high-tech sectors, including semiconductors and artificial intelligence.

These restrictions, expected to take effect next year, come at a time when the Biden administration is seeking to enhance its stance toward China militarily, economically, and technologically.

The spokesperson for China's Ministry of Commerce indicated that the country hopes "the United States can avoid artificially obstructing global economic and trade exchanges and cooperation, and also refrain from placing obstacles in the way of the global economic recovery."



AFP