China firmly opposes U.S. government's move to limit U.S. businesses' investment in key parts of Chinese economy

(ECNS) – The Chinese Foreign Ministry firmly opposes U.S. President Biden's move to sign an executive order that will limit investment in key parts of the Chinese economy by U.S. businesses, a spokesperson for the ministry said on Friday.

The areas mentioned above include semiconductors, artificial intelligence and quantum computing.

"The U.S. habitually politicizes technology and trade issues and uses them as a tool and weapon in the name of national security. It has been building 'small yards with high fences' and pushing for decoupling and fragmenting industrial and supply chains, said the spokesperson Wang Wenbin at the daily news conference. 

It even pursues selfish interests at the expense of countries it calls friends by targeting its allies with economic coercion, he added.

He pointed out that the true intention of the U.S. is to take away the right to development from China and maintain U.S. supremacy for its selfish interests. Such blatant act of economic coercion and sci-tech bullying is against the principles of market economy and fair competition, undermines the international economic and trading order, disrupts and destabilizes global industrial and supply chains and hurts the interests of the whole world.

China will closely follow the developments and firmly safeguard its rights and interests, he added.