BEIJING, February 23. /TASS/. China will retaliate for US curbs on investments from China, the Chinese Commerce Ministry said in a statement.
"We have taken into account the current situation," the statement said. "China will closely monitor US actions and will take necessary measures to protect its legitimate rights and interests."
The statement followed the publication of the White House memorandum on investment policy on February 21 that calls for restricting investment cooperation with China.
Beijing insists that the US adhere to international trade and investment rules, respect the laws of market economy and stop politicizing and weaponizing trade and economic issues. According to the ministry, such restrictions by Washington "will further distort investment interaction between the two countries and will not benefit the US itself."
The statement said the US abstracts the concept of national security by taking discriminatory actions that "seriously affect China's trade and economic cooperation with the US."
"This will significantly undermine the confidence of Chinese enterprises," it said. "We hope the US side will ensure a fair, transparent, stable and predictable business environment for Chinese companies."
Said restrictions and stricter control over Chinese investments, according to the ministry, will cause American businesses to cede the Chinese market to competition.
The White House memorandum aims to protect US national security interests from threats posed by foreign companies. The document prescribes limiting capital investments in strategic industries from China.