China blasts Biden’s reported crackdown plan
China criticized on Thursday the United States plan to amend the investment ban on companies with ties to Beijing’s military, which US President Joe Biden is reportedly expected to unveil.
Chinese Foreign Ministry spokesman Wang Wenbin (pictured) underlined during a press conference that the Asian country is prepared to take the measures necessary to protect its companies’ “legitimate rights and interests.”
Biden’s decision, reportedly expected to go into effect via an executive order later this week, will modify the criteria for blacklisting entities, giving wider jurisdiction to the US Treasury Department.
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