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China urges US to withdraw investment ban

China urges US to withdraw investment ban

FILE PHOTO: Chinese and U.S. flags flutter outside the building of an American company in Beijing, China January 21, 2021. REUTERS/Tingshu Wang

BEIJING: China said on Friday that it strongly condemned U.S. President Joe Biden's signing of an order to ban investment in dozens of Chinese defense and tech firms.

China urged the United States to respect market law and principle and withdraw the investment ban list, foreign ministry spokesman Wang Wenbin told a regular news briefing.

Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors, a move his administration says expands the scope of a legally flawed Trump-era order.

(Reporting by Gabriel Crossley; Writing by Beijing Newsroom; Editing by Hugh Lawson)

Source: Reuters

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