Business / Economy

Investing protectionism indicates discrimination: MOC

(Xinhua) Updated: 2012-12-18 16:30

BEIJING - China opposes any country blocking Chinese investors on the pretext of national security, as it is indicative of discrimination, a spokesman for the Ministry of Commerce (MOC) said Tuesday.

Speaking at a press conference as the 23rd China-US Joint Commission on Commerce and Trade (JCCT) opens in Washington, Shen Danyang pointed out that China has investments in 130 countries and regions worldwide.

Nevertheless, a number of Chinese companies have encountered "national security checks" in the United States, which have blocked their investment activities.

Mergers and acquisitions involving Chinese companies, which are mainly equity trades in the open market, are normal business activities, according to Shen.

"We hope the US authorities can treat Chinese investors in an objective way, keep political elements away from business cooperation, and ensure the security checks are open, fair and transparent," he said.

Last year, Chinese investment in the United States reached $1.81 billion, up 38.5 percent year on year.

Accumulated investment has neared $9 billion, which has been used to set up at least 1,700 enterprises and employ more than 14,000 local people, MOC data showed.

In the first 11 months this year, China's Overseas Direct Investment in the United States stood at $1.1 billion, an increase of 13 percent from the same period a year ago.

Chinese Vice Premier Wang Qishan will co-chair the 23rd China-US JCCT from Dec 18 to 19.

Shen said the meeting is a key platform for the two countries to promote trade relations and address issues of mutual concern.

"We hope the US side can take concrete measures in export restrictions, trade remedy probes and intellectual property protection to build trade ties based on mutual trust and mutual benefit," said the spokesman.

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