https://sputnikglobe.com/20230809/beijing-very-disappointed-with-new-restrictions-on-us-investments-in-china-1112496155.html
Beijing 'Very Disappointed' With New Restrictions on US Investments in China
Beijing 'Very Disappointed' With New Restrictions on US Investments in China
Sputnik International
Beijing is very disappointed the Biden administration moved forward with plans to roll out new restrictions on US economic investment in China, Chinese Embassy spokesperson Liu Pengyu told Sputnik in a statement.
2023-08-09T23:01+0000
2023-08-09T23:01+0000
2023-08-09T23:01+0000
asia
us
china
asia-pacific region
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joe biden
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"Despite China’s repeated expression of deep concerns, the US went ahead with new investment restrictions. The Chinese side is very disappointed at this," Liu said on Wednesday. Earlier Wednesday, the White House announced US President Joe Biden is signing an executive order authorizing the secretary of the US Treasury Department to regulate certain US investments into Chinese entities engaged in activities involving national security sensitive technologies in three sectors: semiconductors and microelectronics, quantum information technologies, and certain artificial intelligence systems.The US Treasury Department is releasing a notice of proposed rulemaking in conjunction with the executive order to help facilitate a carefully tailored approach with stakeholders, officials said.The measures were said to have been developed following consultations with allies, Congress and the industry.The Treasury secretary will have the authority to investigate and penalize violations of the executive order, the officials said, adding that the industry will have great incentive to comply with the regulations.
https://sputnikglobe.com/20230809/prepare-for-the-worst-china-diversifying-gold-currency-reserves-as-us-dollar-becomes-riskier-bet-1112487317.html
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biden administration, beijing, china, new investment restrictions, chinese embassy spokesperson liu pengyu
biden administration, beijing, china, new investment restrictions, chinese embassy spokesperson liu pengyu
Beijing 'Very Disappointed' With New Restrictions on US Investments in China
WASHINGTON (Sputnik) - Beijing is very disappointed the Biden administration moved forward with plans to roll out new restrictions on US economic investment in China, Chinese Embassy spokesperson Liu Pengyu told Sputnik in a statement.
"Despite China’s repeated expression of deep concerns, the US went ahead with new investment restrictions. The Chinese side is very disappointed at this," Liu said on Wednesday.
"The economic and trade relationship between China and the US is mutually beneficial in nature. Two-way investment is an important area of bilateral trade."
Earlier Wednesday, the White House announced US President Joe Biden is signing an executive order authorizing the secretary of the US Treasury Department to regulate certain US investments into Chinese entities engaged in activities involving national security sensitive technologies in three sectors: semiconductors and microelectronics, quantum information technologies, and certain artificial intelligence systems.
The US Treasury Department is releasing a notice of proposed rulemaking in conjunction with the executive order to help facilitate a carefully tailored approach with stakeholders, officials said.
The measures were said to have been developed following consultations with allies, Congress and the industry.
The Treasury secretary will have the authority to investigate and penalize violations of the executive order, the officials said, adding that the industry will have great incentive to comply with the regulations.
