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China voices opposition to protectionism in guise of security reviews

Updated: Jul 27,2017 8:26 PM     Xinhua

BEIJING — Security reviews of investments in sensitive areas are the legal right of all countries, but should not be used as tools of protectionism, the Ministry of Commerce (MOC) said on July 27.

The ministry is aware of calls for enhanced security reviews of foreign investments, and adoption of relevant legislation in some countries, said MOC spokesperson Gao Feng.

Meanwhile, the ministry knows that business communities in those countries oppose such practices and regard them as retrogression in free trade and a threat to economic development, said Gao.

The spokesperson noted that China is committed to promoting economic globalization, free trade and investment, opposes trade protectionism and continues to open to the outside world.

China hopes other countries will adhere to principles of nondiscrimination and transparency, fully consider and protect the legitimate interests of investors, including Chinese enterprises, and create a fair and competitive environment, he said.

The ministry will continue to closely watch the adjustment of foreign investment policies in the countries concerned and encourage competent Chinese enterprises to “go out” for mutually beneficial cooperation in accordance with market principles and international practices, said Gao.

At the same time, the ministry will continue to work with other relevant departments on risk prevention for outbound investment in order to ensure its healthy development, according to Gao.

Outbound investment by domestic enterprises in the real estate, hotel, cinema, entertainment and sports industries should be prudent, he said.