China signaled it would respond if needed to the Biden administration's executive order to restrict U.S. investments in advanced Chinese technology.
China's Ministry of Commerce signaled Thursday it would respond, if needed, to the Biden administration's executive order to restrict U.S. investments in advanced Chinese technology.
When asked about U.S. Commerce Secretary Gina Raimondo's plans to visit China, the ministry's spokesperson declined to confirm a time, but said the two countries remained in close communication. Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019.to restrict U.S. investments in advanced Chinese technology.
China's Ministry of Commerce has met with businesses to understand the order's impact, spokesperson Shu Jueting said in Mandarin, translated by CNBC. "On that basis, we are making a comprehensive assessment of the executive order's impact, and will take necessary countermeasures based on the assessment's results," Shu said.