Chinese and U.S. flags flutter close to The Bund, earlier than U.S. commerce delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019.
Aly Song | Reuters
BEIJING — China’s Ministry of Commerce signaled Thursday it might reply, if wanted, to the Biden administration’s executive order to limit U.S. investments in superior Chinese expertise.
China’s Ministry of Commerce has met with companies to perceive the order’s impression, spokesperson Shu Jueting mentioned in Mandarin, translated by CNBC.
“On that foundation, we’re making a complete evaluation of the executive order’s impression, and can take vital countermeasures primarily based on the evaluation’s outcomes,” Shu mentioned.
U.S. President Joe Biden final week signed an executive order aimed toward limiting U.S. investments into Chinese semiconductors, quantum computing and synthetic intelligence corporations over nationwide safety considerations.
The Treasury is largely accountable for implementation, and is at present gathering public comments in order to type a draft regulation.
When requested about U.S. Commerce Secretary Gina Raimondo’s plans to go to China, Shu declined to verify a time, however mentioned the 2 nations remained in shut communication.