Facebook Twitter 新浪微博 Instagram YouTube Friday, Sep 15, 2017

Trump blocks Chinese investor from buying U.S. chip maker

(CRI Online)    10:48, September 15, 2017

Ministry of Commerce spokesman Gao Feng. [File photo: mofcom.gov.cn]

China's Ministry of Commerce replied to US President Donald Trump's decline of one Chinese private equity institution's purchase of a US chip maker, saying that the purchase action is a market-oriented choice and that a transparent and appropriate business environment is expected in the state in question, Chinanews.com reported on Thursday.

US President Donald Trump prevented a business deal between one Chinese private equity institution and an American chip maker. This turn-down of the business deal is the fourth time in 27 years that a US president has prevented purchases of American companies by foreign investment for the reason of national security risks.

Gao Feng, Ministry of Commerce spokesman, replied on the press conference of the ministry on Thursday saying that though it's a country's right to have censorship on investments in sensitive areas, it should not be an umbrella for trade protectionism.

Gao Feng also pointed out that the behavior of the Chinese company's purchase of foreign companies is based on the market and an independent choice by the enterprise. He hopes that the state in question should fairly and objectively accept the purchase, and create a fair and transparent business playing field, avoiding the negative influence on investors' confidence.

According to official statistics of the Ministry of Commerce, the total of China's non-financial direct investment in America in 2016 reached 19.5 billion US dollars, a 132.4% increase than that in 2015.

Also, according to data from Rhodium Group, an American investment management and policy analysis group, China's foreign direct investment in America in 2016 reached 45.6 billion US dollars, three times that in 2015. Since 2000, Chinese enterprises' direct investment in America has reached 100 billion US dollars, creating jobs for over 140,000 people.

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

Add your comment

We Recommend

Most Read

Key Words