China denies attempting to obtain US tech data to help Chinese firms gain advantage

China denies attempting to obtain US tech data to help Chinese firms gain advantage

Beijing reacts to executive order by Biden administration to limit US investments in China’s tech industries

By Esra Tekin

ISTANBUL (AA) – China’s Commerce Ministry has rejected claims that it is unlawfully obtaining US high-tech data after the Biden administration issued an executive order last week limiting American investments in advanced technology industries in China.

The remarks by China’s Commerce Ministry follow media reports of a recent hearing held by the US House of Representatives during which some politicians alleged that China is acquiring US tech data and intellectual property "by force" or through mergers and acquisitions so as to help Chinese firms replace US firms.

In response, Commerce Ministry spokesperson Shu Jueting said such allegations are false, the Beijing-based daily Global Times reported.

The essence of economic and trade cooperation between China and the US is of mutual benefit and win-win, and China welcomes enterprises from all countries, including US companies, to succeed in their development in China and strives to create a market-oriented, law-based and internationalized business environment for all kinds of enterprises, the Global Times cited Shu as saying.

President Joe Biden’s executive order was also criticized by China’s Foreign Ministry, which said it is not in line with China’s foreign investment law.

The US should treat Chinese enterprises fairly and equitably and provide them with equal treatment in trade and investment cooperation in the US, Shu added.

The Commerce Ministry noted that it will take necessary measures based on the result of its appraisal of Biden’s executive order.

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