China says carefully monitoring US policies on inbound investments | The Daily Star
12:00 AM, June 29, 2018 / LAST MODIFIED: 12:00 AM, June 29, 2018

China says carefully monitoring US policies on inbound investments

China's commerce ministry said on Thursday it would carefully monitor US policies on inbound investments, stressing that the country opposes using national security as grounds to restrict foreign investments.

US President Donald Trump said on Wednesday he will use a strengthened national security review process to thwart Chinese acquisitions of sensitive American technologies, a softer approach than imposing China-specific investment restrictions.

The US Treasury Department has recommended that Trump use the Committee on Foreign Investment in the United States (CFIUS), whose authority would be enhanced by new legislation in Congress, to control investment deals. The legislation expands the scope of transactions reviewed by the interagency panel to address security concerns, Trump said.

“China will closely monitor the legislation process and evaluate its potential impact on Chinese companies,” Chinese commerce ministry spokesman Gao Feng told reporters in a regular briefing in Beijing.

“China does not agree with (the US) tightening foreign investment conditions using national security as reasons,” he said.

The proposed investment restrictions are part of the Trump administration's efforts to pressure Beijing into making major changes to its trade, technology transfer and industrial subsidy policies after US complaints that China has unfairly acquired American intellectual property through joint venture requirements, unfair licensing and strategic acquisitions of US tech firms.

Stay updated on the go with The Daily Star Android & iOS News App. Click here to download it for your device.

Grameenphone and Robi:
Type START <space> BR and send SMS it to 2222

Banglalink:
Type START <space> BR and send SMS it to 2225

Leave your comments

Top News

Top News

Top