Beijing announced it would do something, what did the UK and EC say?

On August 10, China's Ministry of Commerce expressed "deep concern" over US President Joe Biden's signing of an executive order banning some new investments in Beijing in sensitive technology sectors.

China concerned about new US investment ban (Source: Reuters)

Beijing reserves the right to take appropriate measures, the ministry said, adding that it hopes the United States will respect the laws of the market economy and the principles of fair competition and refrain from “artificially obstructing global economic and trade exchanges and cooperation.”

On the same day, a spokesman for the European Commission (EC) said that the commission will analyze the US ban on new US investments in China in some sensitive technology projects such as computer chips.

"We have taken note of the executive order on foreign investment issued by the Washington administration on 9 August. The EC will analyse this executive order carefully, and is in close contact with the US authorities and looks forward to continuing our cooperation on this matter," an EC spokesperson said.

On the UK side, Chancellor Rishi Sunak is considering whether to restrict overseas investment in some Chinese technology sectors, similar to the US move.

A UK government spokesperson said the executive order on overseas investment provides important clarity on the US approach. The UK will closely review these new measures while continuing to assess the potential national security risks associated with certain investments.

US President Joe Biden has signed an executive order banning certain US investments in sensitive technology in China, while requiring the government to be informed about funding in other technology sectors.

Specifically, the order allows the US Treasury Secretary to ban or restrict certain US investments in Chinese entities operating in three areas: semiconductors and microelectronics, quantum information technology, and certain artificial intelligence systems.

Washington is now waiting to see whether Britain and other allies will support the new US approach.

Source: https://baoquocte.vn/my-han-che-dau-tu-vao-trung-quoc-bac-kinh-tuyen-bo-se-lam-mot-viec-anh-va-ec-noi-gi-237914.html