BEIJING, China – Beijing said on Thursday that a new US policy to restrict investment in Chinese technology “seriously disrupts the security of global industrial and supply chains.”
An anonymous Commerce Department spokesperson said President Joe Biden’s executive order “seriously deviates from the principles of market economy and fair competition that US industrial and supply chains have.”
“China expresses serious concern about this and reserves the right to take action,” the spokesperson said in a statement released by the ministry, without mentioning specific countermeasures.
Biden’s executive order directs the Treasury Department to restrict certain US investments in China in sensitive high-tech sectors, including semiconductors, quantum computing and artificial intelligence.
READ: Biden issues executive order restricting US investments in Chinese technology
The restrictions, which are expected to take effect next year, come as the Biden administration seeks to bolster its position against China on a multitude of fronts: military, economic and technological.
China hopes the United States “avoid artificially obstructing global economic and trade exchanges and cooperation, and avoid setting up obstacles to the recovery of the world economy,” a spokesman for China’s Ministry of Commerce said on Thursday.
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