China responds to US restrictions on high-tech investments toward China

China is seriously concerned and reserves the right to take measures in response to US President Joe Biden signing an executive order on Wednesday local time that will block and regulate high-tech US-based investments going toward China, the Ministry of Commerce said in a statement on its official website on Thursday.

Biden's executive order will limit US investments in the fields of advanced computer chips, micro electronics, quantum information technologies and artificial intelligence due to so-called "national security" concerns.

The US has restricted outbound investment by its companies and is engaged in "decoupling and severing supply chains" in the investment field under the guise of "de-risking", which has seriously deviated from the principles of market economy and fair competition advocated by the US side, and affected normal business decisions of enterprises, the ministry said.

Such moves have also undermined international economic and trade order, and seriously disrupted the security of global industrial and supply chains, it added.

"We hope that the US side respects the laws of the market economy and the principle of fair competition, and refrain from artificially impeding global economic and trade exchanges and cooperation, and from setting obstacles for the recovery and growth of world economy," the ministry said.