The China Council for the Promotion of International Trade (CCPIT) on Thursday called on the United States to lift restrictions on investments aimed at China.
According to the U.S. Department of the Treasury on Monday, the U.S. has finalized restrictions on investments by U.S. individuals and companies into advanced technology sectors in China, including the semiconductor, quantum computing and AI sectors.
The council said that it has expressed strong concern over the U.S. investment restriction rules on China. In the rule-making process, the council submitted a written statement pointing out that these restrictions are based on erroneous assumptions and distorted facts, representing typical economic coercion and technological bullying. Such measures do not address the U.S.' stated national security concerns and instead have serious adverse impacts on relevant industries in both China and the U.S., while also undermining the security and stability of global industrial and supply chains, according to the council.
"Both Chinese and U.S. business communities hope to collaborate based on the principles of market economy and fair competition to achieve mutual benefit and win-win outcomes. We strongly call on the U.S. to lift such investment restrictions," said Sun Xiao, spokesman of the trade promotion body, at a press conference.
China's trade promotion body urges US to lift restrictions on investment
Preparations are nearly complete for the seventh China International Import Expo (CIIE), set for November 5-10 in Shanghai, the Ministry of Commerce said on Thursday.
Ministry spokesperson He Yadong said at a press conference that exhibits from over 2,700 participating companies have entered the exhibition halls, while those from more than 700 companies are still in transit and will arrive by Nov. 2.
To improve the experience for attendees, this year's CIIE has established 172 functional areas in 26 categories and added 1,523 temporary signs throughout the venue. The expo has also streamlined its registration and approval processes with a digital system.
"We are enhancing payment convenience by ensuring adequate small-denomination cash reserves, while expanding bank card transaction acceptance to include both domestic and international cards for the first time. Additionally, the expo will feature a 5,000-square-meter catering zone and offer food delivery services to all booths," said He.
The expo will also share comprehensive travel and service information via its official WeChat account, and upgrades have been made to the event's Hongqiao forum information system and the venue's navigation systems to enhance the attendee experience.
The seventh CIIE has attracted participants from 152 countries, regions and international organizations, and achieved a new record with 297 Fortune Global 500 companies and industry leaders set to attend.
Since its first edition in 2018, the expo has become an important showcase, spotlighting China's new development paradigm, a platform for high-standard opening up, and an opportunity for the whole world.
Preparation work for CIIE nears completion: ministry
