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China responds to Trump’s “retaliatory” decision against its companies

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China, on Monday, vehemently rejected US President Donald Trump‘s decision to block US investments in some Chinese companies.

A spokesperson for the Chinese Ministry of Commerce said today that the United States ignored the facts and considered some Chinese companies to be companies controlled by the military, a move that lacks evidence.

The spokesperson added that the United States has repeatedly generalized the principle of national security, abused state power, imposed continuous repression on specific Chinese companies, and violated many times the basic principles of market competition that the United States claimed to support, and also violated international trade laws.

According to Xinhua, the spokesperson said economic cooperation between China and the United States is mutually beneficial, adding that the interests of all countries are deeply intertwined in the era of globalization.

“The actions of some politicians can not suppress market forces,” the spokesperson stated.

The ministry said Chinese companies have always adhered to laws and regulations in their international operations and will continue to establish mutually beneficial cooperation with other countries based on respecting market rules and relevant laws.

“China urges the United States to stop the unfounded repression of Chinese companies and to provide a fair and non-discriminatory environment for their normal operations in the United States,” the spokesperson added.

US President Donald Trump signed an executive order that prevents Americans from investing in Chinese companies that the US administration says are owned or controlled by the Chinese military.

The executive order applies to 31 Chinese companies, which the US administration says “enable the development and modernization” of the Chinese military and “directly threaten” the security of the United States.

Trump’s order also bans US investors from owning or trading any securities that originate from or are exposed to those companies.

Trump’s order, which is scheduled to go into effect on January 11, comes as trade and technology battles between the world’s two largest economies intensified.

Source: iktisatnc

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