China said it “firmly opposes” a US Treasury proposal to expand the scope and increase the severity of restrictions on US investment in China, calling it discriminatory and “a typical example of an overly broad application of national security concerns.”
The Ministry of Commerce said the proposed restrictions run counter to the “important consensus” reached by the two countries' presidents, and would hurt bilateral economic and trade cooperation and US companies' interests. Beijing will closely monitor developments and reserves the right to take corresponding measures, it said.
“China urges the US to respect the laws of the market economy, cease the overbroad application of the concept of national security, stop politicizing and weaponizing economic and trade issues, and create a favorable environment for China-U.S. economic and trade cooperation,” it said.
The comments follow a proposal by the Trump administration this week to add biotechnology to a list of sensitive technologies subject to investment limits involving foreign adversaries, citing national security concerns.
It marks the latest escalation in Washington's efforts to curb China's biotech advances, potentially complicating financial ties at a time when US drugmakers are increasingly turning to China for new medicines.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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