Ministry of Commerce: Firmly Opposes Newly Proposed US Rules on Outbound Investment Restrictions

On October 24, according to Jinshi Data, a spokesperson for the Ministry of Commerce stated at a press briefing in response to the U.S. Treasury Department's release on October 23 of new proposed rules on outbound investment restrictions seeking public comments that China has taken note of the relevant situation, expressed serious concern and firm opposition, will closely monitor subsequent developments, and reserves the right to take appropriate measures.

The spokesperson said that the proposed rule expands the scope of investment restrictions on China in a discriminatory manner and intensifies limitations, which is a typical instance of overgeneralizing national security concerns. This violates the important consensus reached by the heads of state of both countries, interferes with normal economic and trade cooperation between Chinese and American enterprises, and undermines the international economic and trade order.

The spokesperson stated that China possesses an ultra-large-scale market with enormous potential for consumption and investment; U.S. restrictions on investment in China are not conducive to China-U.S. economic and trade cooperation and will also harm the interests of U.S. enterprises themselves. The Chinese side urges the U.S. side to respect the laws of the market economy, cease the overgeneralization of the concept of national security, stop politicizing and weaponizing economic and trade issues, and create a favorable environment for China-U.S. economic and trade cooperation.