China speaks out against US restrictions after Huawei and Ant Financial deals fail to close
By CGTN's Wang Hui
China’s Ministry of Commerce expressed concerns over restrictions on Chinese investment in the US after separate deals involving Chinese tech giant Huawei and Alibaba affiliate Ant Financial there fell through.
China is against trade protectionism in any form, spokesperson for the Ministry of Commerce Gao Feng said at a press conference on Thursday.
Media reports earlier this week said telecommunications company AT&T had backed out of a deal with Huawei to sell its flagship Mate 10 Pro smartphones on US territories.
Gao said China has seen increasing protectionism in the US, an idea which has been opposed by the international community, including China.
The US government also rejected a 1.2 billion US dollars merger between Ant Financial and US money transfer company MoneyGram citing national security concerns last week.
"As far as the Ant Financial case is concerned, we feel sorry to see that normal business investment and merger made by a Chinese enterprise in the US was once again blocked due to the so-called national security reasons," Gao said.
"We do not oppose normal security review by relevant countries over foreign investment, but we are concerned about the acts of setting up glass door and swing door to restrict foreign investment citing national security," he said.
He said that China encourages Chinese enterprises to invest overseas legally and legitimately in a way that fits the enterprises’ own international needs and the rules of the market economy.