China objects to US initiative to restrict investments in its biotechnology

Official protest from Beijing

The Chinese government expressed categorical protest against US intentions to expand the list of restrictions on American investments in the PRC's technology sector. China's Ministry of Commerce called these intentions discriminatory and discrediting, Bloomberg reports.

Violation of leaders' agreements

The Chinese side emphasised that such initiatives contradict previously reached agreements between the presidents of both states. Beijing is convinced that such steps will harm not only bilateral economic cooperation but also the direct interests of American companies themselves.

Call for de-politicisation of the economy

The PRC authorities called on Washington to stop politicising economic issues. China promised to closely monitor the development of events and reserved the right to take appropriate measures in the event of these plans being implemented.

Context of escalation

A new wave of tension arose after the US administration proposed including biotechnology in the list of sensitive industries. Restrictions on these areas are being introduced on grounds of national security. This decision is another attempt by Washington to curb the development of the Chinese biotech sector.

This initiative could significantly complicate financial ties between the countries at a time when American pharmaceutical companies are increasingly engaging Chinese partners for the joint development of new drugs.