Home Sports China says US funding coverage ‘severely disrupts’ international provide chains

China says US funding coverage ‘severely disrupts’ international provide chains

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China says US funding coverage ‘severely disrupts’ international provide chains

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BEIJING, China  -Beijing on Thursday mentioned a brand new US coverage to limit funding in Chinese language know-how “severely disrupts the safety of world industrial and provide chains”.

An unnamed Ministry of Commerce spokesperson mentioned President Joe Biden’s government order “significantly deviates from the market economic system and truthful competitors rules the US has at all times promoted, and impacts corporations’ regular operation choices, damages the worldwide commerce order, and severely disrupts the safety of world industrial and provide chains”.

“China expresses severe concern about this and reserves the fitting to take measures,” the spokesperson mentioned in a press release revealed by the ministry, with out mentioning particular countermeasures.

Biden’s government order directs the Treasury Division to limit sure US investments in China in delicate high-tech sectors together with semiconductors, quantum computing and synthetic intelligence.

READ: Biden points government order limiting US investments in Chinese language know-how

The restrictions, that are anticipated to take impact subsequent 12 months, come as Biden’s administration appears to bolster its place vis-a-vis China on a large number of fronts: army, financial and technological.

China hopes the US will “keep away from artificially obstructing international financial and commerce exchanges and cooperation, and keep away from establishing obstacles for the restoration of the world economic system”, the Chinese language commerce ministry spokesperson mentioned Thursday.



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