In response to the recent executive order issued by U.S. President Joe Biden, China is contemplating various countermeasures, according to officials from the Ministry of Commerce.
“The executive order, which seeks to impose limitations on American investments in advanced Chinese technology, has prompted discussions within China’s business circles.”
“Shu Jueting, spokesperson for China’s Ministry of Commerce, conveyed in Mandarin that the ministry has engaged in dialogues with businesses to gauge the potential impact of the order. Based on the outcomes of these discussions, a comprehensive assessment is underway. Shu Jueting stated that China would take necessary countermeasures in light of the assessment’s conclusions”.
“The executive order signed by President Biden aims to curtail U.S. investments in Chinese semiconductor, quantum computing, and artificial intelligence firms. These restrictions are being implemented due to concerns over national security. The responsibility for implementation primarily falls on the Treasury, which is currently gathering public input to formulate a draft regulation”.
“Regarding plans for U.S. Commerce Secretary Gina Raimondo’s visit to China, Shu Jueting refrained from confirming specific dates. However, he emphasized that both nations continue to maintain close communication. As the situation evolves, China’s response to the executive order remains a topic of interest in the ongoing U.S.-China relations”.