China Objects to New US Outbound Investment Rules

New U.S. outbound investment restrictions on China (see 2410280043) will hurt both Chinese and American firms and “interfere with the normal economic and trade cooperation” between the two countries, a Chinese commerce ministry spokesperson told reporters this week, according to an unofficial translation. China “firmly opposes” the new rules and has “lodged solemn representations” with the Biden administration, the spokesperson said, adding that the “vast majority of industries related to these areas do not involve national security, but they will all be restricted by the U.S. ban.” China “reserve[s] the right to take measures” in response.