US investment policy seriously affects economic, trade cooperation between Chinese, US enterprises: ministry

BEIJING -- The US move to release the "America First Investment Policy" memorandum seriously affects normal economic and trade cooperation between Chinese and US enterprises, a spokesperson for the Chinese Ministry of Commerce said Saturday.

The move, which generalizes the national security concept, is discriminatory and a "typical non-market practice," the spokesperson said.

US decision to tighten security reviews targeting investments from China will seriously undermine the Chinese enterprises' confidence in investing in the United States, according to the spokesperson.

"We hope the US side will provide a fair, transparent, stable and predictable business environment for Chinese enterprises investing there," the spokesperson said.

It is also an unreasonable practice that the US side plans to further implement more restrictive measures for US investments in China, the spokesperson said. Relevant measures, once implemented, will further distort bilateral investment and will do no good to the United States itself.

Many US business associations and enterprises have already expressed concerns that restrictions on US investment in China will lead to US enterprises losing the Chinese market to other competitors, the spokesperson added.

China urges the US side to adhere to international investment and trade rules, respect the laws of market economy, and stop politicizing and weaponizing economic and trade issues.

China will closely follow the moves of the United States and take necessary measures to safeguard its own legitimate rights and interests, the spokesperson said.