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Friday, January 15, 2021, 23:02
Beijing opposes US' repeated sanctions against Chinese firms
By China Daily & Xinhua
Friday, January 15, 2021, 23:02 By China Daily & Xinhua

BEIJING - A Chinese Foreign Ministry spokesman on Friday rebuked the Trump administration for blacklisting some Chinese companies with alleged military ties, which he said has shown the world exactly what bullying is.

Spokesman Zhao Lijian told a press briefing that China firmly opposed the United States' repeated sanctions against Chinese firms, adding that the move went against the trend of the times and the United States' much-touted principles of market competition and international economic trade rules.

China will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises and resolutely support Chinese enterprises in safeguarding their rights and interests in accordance with the law.

Zhao Lijian, Chinese Foreign Ministry spokesperson

China's response came after the US Department of Defense added nine companies, including smartphone maker Xiaomi and State-owned plane manufacturer Commercial Aircraft Corp of China, to its list of Chinese companies with alleged military ties.

Zhao said the US move has interfered with the normal economic, trade and investment cooperation between the two countries, and undermined the confidence of foreign companies in investing and operating in the United States, which will eventually harm the interests of US companies and investors.

ALSO READ: Defense ministry speaks out against US interference

Citing the fact that many large US multinational companies are the result of military-civil fusion, Zhao said the Trump administration has once again shown the world what unilateralism, double standards and bullying are.

"China will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises and resolutely support Chinese enterprises in safeguarding their rights and interests in accordance with the law," Zhao said.  

Xiaomi denied having links to the Chinese military. The company said in a statement that it's not owned, controlled or affiliated with the Chinese military, and is not an alleged Chinese military company as defined under the US National Defense Authorization Act.

The company will take appropriate measures to protect the interests of the company and its shareholders, Xiaomi said, adding that it is reviewing the potential consequences of the new order.

READ MORE: US designation of Chinese firms as 'military enterprises' opposed

Xiaomi shares plunged more than 12 percent in Hong Kong on Friday. At 16:00, its shares traded at HK$29.3, down HK$3.35 or 10.26 percent.

China-US trade ties

Meanwhile, Zhao said that China-US economic and trade relations are mutually beneficial in nature.

Zhao made the remarks in response to an economic report released by the US-China Business Council.

Exports to China supported 1.2 million jobs in the US in 2019, while the trade war has resulted in a peak loss of 245,000 jobs, according to a report by the US-China Business Council

The report showed that the United States has long benefited from trade with China. Exports to China supported 1.2 million jobs in the United States in 2019, while the trade war has resulted in a peak loss of 245,000 jobs.

ALSO READ: US businesses oppose call for keeping tariffs on China

In the report, the council called for policymakers to scale back tariffs to benefit the US economy and create jobs.

Zhao said that the content of the report has fully demonstrated that the essence of China-US economic and trade relations is mutually beneficial, and the trade war against China will not solve the United States' own problems, but only harm others and itself.

READ MORE: Xi encourages Starbucks to help promote China-US ties

"We hope the US side will listen carefully to rational voices within the country and work with China to create a favorable atmosphere for the healthy development of bilateral economic and trade cooperation so as to better enhance the common well-being of the people on both sides," Zhao said.


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