BUSINESS Ministry asks US to desist from bullying enterprises

BUSINESS

Ministry asks US to desist from bullying enterprises

China Daily

10:11, December 24, 2020

File photo of the Ministry of Commerce of the People's Republic of China. (Photo: IC)

China's Ministry of Commerce on Tuesday urged the United States to stop unilateral and bullying behaviors and said it would take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.

The ministry's remarks came after the US Department of Commerce placed 58 Chinese companies and 45 Russian companies on a list of firms with alleged military ties. Due to this stipulation, US exporters, re-exporters and transferors will have to obtain a license to export, reexport or transfer designated items to these companies.

Most of the Chinese firms on the blacklist are from sectors like electronics, aviation and materials.

Foreign Ministry spokesperson Wang Wenbin said during a news briefing on Tuesday that the US has been abusing state power and national security concepts to suppress and contain certain foreign companies by applying measures such as export controls.

"It severely violates the rules of free trade, gravely threatens the security of global industrial and supply chains and seriously undermines the well-being and interest of people in all countries including the US," he said.

"China firmly rejects it and urges the US to immediately stop its erroneous practice and provide a level playing field for Chinese and other foreign companies."

The country will take essential measures to uphold the legitimate rights and interests of its businesses, he said.

Zhang Yansheng, chief researcher at the China Center for International Economic Exchanges, said the two countries should avoid falling into a spiral of conflicts and confrontation, and should work together to find ways to promote cooperation.

"Cooperation between China and the US not only leads to a win-win situation for the two countries but also benefits the world economy, while confrontation only causes damage to both sides," he said.

Under such a situation, how to manage disputes and avoid conflicts will test the wisdom of both countries, he added.

China has always advocated multilateralism and the building of an open world economy, and put forward the importance of promoting a community with a shared future for humanity, he said.

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