China slams Biden order banning some US investments
The Commerce Ministry on Thursday said it is "gravely concerned" about Washington's signing of an executive order blocking US investment in some Chinese businesses, adding that it reserves the right to take measures.  US President Joe Biden signed the order on Wednesday aiming to limit investments in companies involved in semiconductors and microelectronics, quantum information technology and certain artificial intelligence systems.    The order also requires US venture capitalists and investors to notify the Treasury of potential investment in Chinese companies for the development of technologies in the targeted sectors.    The restrictions are expected to take effect next year.    A ministry spokesperson said the move "undermined international trade" and "severely disrupted the security of global industrial and supply chains".  Meanwhile, the Foreign Ministry said Beijing was "strongly dissatisfied" and "resolutely opposed" the US restrictions.  The SAR government also voiced opposition to the US move. In a statement, it said the curbs affect normal investment and trading activities between the two sides. (Xinhua/Reuters, additional reporting by RTHK)_____________________________
Last updated: 2023-08-10 HKT 19:53 