Beijing shows strong opposition against new U.S. executive order

Beijing expressed dissatisfaction and opposition on Thursday to Washington's single-minded rollout of restrictions on investments in China, and vowed to resolutely safeguarditsrights and interests.

United States President Joe Biden on Wednesday signed an executive order that will prohibit new U.S. investment in China in three sectors: semiconductors and microelectronics, quantum information technologies,and certain artificial intelligence systems.

The Foreign Ministry said it has lodged a stern representation with the U.S. over the proposed investment restrictions, calling itblatant economic coercion and scientific and technological bullyingwith real purpose to deprive China of its right to development.

The U.S. move violates the principles of market economy and fair competition, undermines the international economic and trading order, and destabilizesglobal industrial and supply chains, a Foreign Ministry spokesperson said in a statement.

The act hurts the interests of both China and the U.S. and the global business community, the spokesperson added.

"This is de-globalization and a move to phase China out," the spokesperson said.

China urges the U.S. to fulfill Biden's commitment of holding no intention to decouple from China or obstruct China's economic development, stop politicizing, instrumentalizingand weaponizingtech and trade issues,the statement said.

The U.S. should revoke thiswrong decision and remove the restrictions on investment in China and create an enabling environment for China-U.S. business cooperation, the spokesperson said.