Facebook Twitter 新浪微博 Instagram YouTube Thursday, Jun 15, 2017
English>>Foreign Affairs

China warns against political intervention in takeovers of US technology

(People's Daily Online)    12:23, June 15, 2017

China opposes political intervention in commercial takeovers, urging the United States to provide a level playing field for Chinese investors, said a Foreign Ministry spokesperson on June 14, following a report that the U.S. was considering restrictions on Chinese investment in sensitive technologies.

“In principle, normal business takeovers shall follow business rules and the laws of the market,” Chinese Foreign Ministry spokesperson Lu Kang told reporters at a routine press conference. “We believe there should not be undue political dimensions imposed on commercial takeovers, let alone political intervention.”

Lu's remarks came after Reuters reported that the U.S. may increase scrutiny of Chinese investment in cutting-edge technologies such as artificial intelligence and machine learning, which are vital to American national security.

Citing an aide to a member of Congress, Reuters noted that Republican Senator John Cornyn is drafting legislation that would give the Committee on Foreign Investment in the United States (CFIUS) more power to ban Chinese acquisitions of certain technologies. CFIUS is an inter-agency group that is authorized to review foreign transactions in order to protect national security.

“We also hope that the U.S. side can provide a sound environment for Chinese enterprises to invest and start businesses in the U.S.,” Lu added. “Facts have proven that a sound trade and investment relationship between China and the U.S. brings tangible benefits to the two sides.”

Chinese investments in the U.S. jumped to $46 billion last year, a 200 percent increase from the previous record of $15 billion in 2015. In addition, two-way investment between the U.S. and China reached an all-time high in 2016, elevating that facet of the bilateral economic relationship, according to a report released by the Rhodium Group and the National Committee on U.S.-China Relations in May. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Chen Lidan, Bianji)

Add your comment

Related reading

We Recommend

Most Viewed


Key Words