China Hits Back At US Proposal To Tighten Investment Limits

China said it “firmly opposes” a US Treasury proposal to expand the scope and increase the severity of restrictions on US investment in China, calling it discriminatory and “a typical example of an overly broad application of national security concerns.” The Ministry of Commerce said the proposed restrictions run counter to the “important consensus” reached by the two countries’ presidents, and would hurt bilateral economic and trade cooperation and US companies’ interests. Beijing will closely monitor developments and reserves the right to take corresponding measures, it said. “China urges the US to respect the laws of the market economy, cease…