China says America First Investment Policy discriminatory

Beijing is strongly dissatisfied and has lodged solemn protests to the United States over its America First Investment Policy as it states "various discriminatory initiatives to strengthen restrictions on two-way investment with China", Foreign Ministry spokesman Lin Jian said.

According to a White House statement, US President Donald Trump signed on the policy memorandum on Friday "aimed at promoting foreign investment while protecting America's national security interests, particularly from threats posed by foreign adversaries like the People's Republic of China".

"The Committee on Foreign Investment in the United States (CFIUS) will be used to restrict Chinese investments in strategic US sectors like technology, critical infrastructure, healthcare, agriculture, energy, raw materials, and others," the White House said.

At a daily news conference on Monday in Beijing, Lin responded by saying that the tightening of the US security review of Chinese investment in the US "is a serious blow to the confidence of Chinese enterprises in investing in the US", and "it is the US' own business environment that is being damaged".

"Adding restrictions on US investment in China is a deliberate intervention in the independent decision-making of US companies, distorting the investment exchanges between the two countries," the spokesman said.

The US shutting out Chinese companies and the Chinese market will ultimately damage the US' own economic interests and international credibility, he added.

Beijing urges Washington to abide by international investment and trade rules, respect the natural laws of market economy, stop politicizing and weaponizing economic and trade issues, and stop undermining China's legitimate right to development.

"China will take necessary means to resolutely safeguard its legitimate rights and interests," he added.

On Friday, the Office of the United States Trade Representative invited comments from the public on proposed Section 301 actions aimed at China's maritime, logistics and shipbuilding sectors.

Lin emphasized on Monday that the abuse of the Section 301 investigation by the US for its own domestic political needs is a serious violation of WTO rules and "a further damage to the multilateral trade system".

"China is strongly dissatisfied with this and resolutely opposes it, and we urge the US to respect the facts and multilateral rules and immediately stop its erroneous practices," he said, adding that Beijing will take necessary measures for its legitimate rights and interests.