Beijing vows to protect Chinese corporate interests after fresh US sanctions

Beijing: The US government uses the issue of national security and abuses state power to restrict Chinese enterprises in all possible means, Chinese Foreign Ministry Spokesperson Wang Wenbin said on Friday after US imposed fresh sanctions on China.

Wenbin said that Beijing will take all necessary measures to protect the interests of Chinese companies targeted by Washington.

“The Chinese side calls on the US to respect market rules and principles, create fair and non-discriminative conditions for Chinese companies. The Chinese side will take necessary measures and will decisively protect legitimate interests of Chinese firms,” Wenbin said during a briefing on Friday.

The comes after Washington imposed fresh sanctions on 59 Chinese military and surveillance firms, banning them from acquiring US investors or investments.

US President Joe Biden signed the relevant decree, expanding an original list of 44 Chinese companies targeted in a November executive order, Sputnik reported. The decree will become effective August 2.

“President Biden also expanded the scope of this national emergency by finding that the use of Chinese surveillance technology outside the PRC, as well as the development or use of Chinese surveillance technology to facilitate repression or serious human rights abuses, constitute unusual and extraordinary threats,” a White House fact sheet read.

Responding to the newly imposed sanctions, the Chinese Foreign Ministry Spokesperson accused the US authority of abusing power and exerting pressure over Chinese companies “not disdaining any tricks.”

“The Chinese side strongly opposes this. The US’ actions violate the rules and order of the market, damage the legitimate interests of not only Chinese companies but the interests of investors around the world, including in the US,” the spokesperson added.

US-China has considerably gone downhill in the recent past. With Biden taking office in January, Beijing expected a positive change in Washington’s policy towards China. However, it did not see much difference from the former Donald Trump administration.