BEIJING, Feb. 24 (Xinhua) -- By shutting out Chinese enterprises and the Chinese market, the United States will end up hurting its own economic interests and international credibility, foreign ministry spokesperson Lin Jian said on Monday.
Lin made the remarks at a regular press briefing while commenting on a memorandum released by the United States on Friday, which outlined further restrictions on two-way investment with China.
The memorandum listed China as a "foreign adversary" on national security grounds and imposed various discriminatory measures, Lin said. "We strongly deplore and firmly oppose this and have lodged serious protests with the U.S. side."
The tightening of security reviews targeting Chinese investments in the United States severely hits the confidence of Chinese companies in investing in the United States and undermines the U.S. business environment. Increasing restrictions on U.S. investment in China is artificially interfering with the independent decision-making of U.S. companies and distorting the flow of investment exchanges between the two countries, Lin said.
"China urges the United States to abide by international investment and trade rules, respect the laws of market economy, and stop politicizing and weaponizing economic and trade issues," the spokesperson said.
China also calls on the United States to stop undermining China's legitimate development rights, he added, stressing that China would take all necessary measures to firmly safeguard its legitimate rights and interests.
In response to U.S. restrictions on China's shipbuilding industry and other related sectors, Lin said that the United States, driven by domestic political interests, had abused the Section 301 investigation mechanism, thereby seriously violating WTO rules and further damaging the multilateral trading system. "China is strongly dissatisfied with this and firmly opposes it," Lin said.
"We urge the United States to respect facts and multilateral rules, and immediately stop its wrong actions. China will take necessary measures to defend its legitimate rights and interests," Lin added. ■
