China opposes U.S. extending investments ban on Chinese firms linked to military

Li Jiayao
2022-11-09 23:55:21

China firmly opposes the White House's decision to continue the Trump-era ban on U.S. investments in Chinese firms linked to the military, the Chinese Foreign Ministry said on Wednesday.

In continuing the ban of the previous administration on investments in companies they say are linked to China's military, Foreign Ministry spokesperson Zhao Lijian said the U.S. is repeating its mistake, adding that this is a move driven by its political agenda and a wanton denial of facts and the actual situation of relevant companies.

It has seriously undermined the rules and order of the market, and hurt the legal rights and interests of Chinese businesses and those of global investors including American investors, he added.

"We urge the U.S. to respect the rule of law and the market, mend its way, and stop taking actions that harm the functioning of global financial markets and the legal rights and interests of investors," Zhao said.

The spokesperson noted that the Chinese side will take necessary measures to firmly uphold the legitimate and legal rights and interests of Chinese companies, and support Chinese businesses in protecting their interests according to law.

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