US proposes biotech ban on China investment; China vows to monitor
Briefing by News4U · First published
US Treasury proposed adding biotechnology to its outbound investment ban list, potentially restricting US firms from investing in Chinese biotech companies.
On October 23, the US Treasury proposed adding biotechnology to the prohibited list under its outbound investment security program, which could restrict US investment in Chinese biotech firms, Sina Finance reported. [1]
At a regular press briefing, Chinese Foreign Ministry spokesperson Mao Ning said the move generalizes national security concepts, discriminates against specific countries and artificially restricts trade and investment, which harms all parties. She urged the US to follow market principles, stop interfering in normal business cooperation and safeguard global supply chains. China will closely monitor developments and take necessary steps to protect its legitimate rights, Sina Finance reported. [1]
Sources
- 美财政部提议将生物技术列入对外投资禁止清单，外交部：将密切关注有关动向
Sina Finance · · Full text