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China is conducting comprehensive assessment of the impact of the US investment restrictions on high-tech sectors in China and will take necessary measures based on the result of the appraisal, the Ministry of Commerce said on Thursday.
The ministry recently held talks with Chinese high-tech enterprises to learn the impact of the US executive order signed by US President Joe Biden.
Biden signed the order on August 9, banning new US investment spanning key technology sectors in China, including semiconductors and other microelectronics, quantum computing systems and artificial intelligence.
On August 10, the commerce ministry had said that the US’ move seriously violates the principles of market economics and fair competition, which will affect business operations and decision-making, in addition to damaging international trade rules and disrupting global industrial and supply chains.
“It is hoped that the US can respect the rules of the market economics and principles of fair competition, and refrain from purposely hindering global economic and trade exchange and cooperation by setting barriers for the global economic recovery,” it noted.