Attempts by India, U.S. to block investments will sour ties: China
Thursday, 22 July 2010, 21:40 IST
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Beijing: Accusing India and the U.S. of following protectionist policies, China aid that any attempt to politicise outbound investments by Chinese firms or "abuse" investment protection tools to protect domestic industries would hurt bilateral ties. Naming India and the US among other countries, the Chinese Commerce Ministry spokesman Yao Jian said that such abuse will sour trade and investment relations with China, as well as dampen the confidence of the country's outbound direct investment (ODI). Apparently pointing to media reports that India had blacklisted 25 Chinese telecommunications providers over security concerns and banned Indian operators from Chinese purchases, Jian said there should be no misuse of trade protectionist measure in the name of national security. "On the one hand, Chinese enterprises are encouraged to actively adjust themselves to the changing environment overseas, but on the other hand, we strongly call for some individual nations and regions not to abuse trade and investment measures against China, citing national security excuses," Yao was quoted today by state run China Daily. "We don't think it is appropriate for them to politicise common commercial investment cases, which will hurt bilateral relations with China," he said. China's ODI surged 24 percent from a year earlier, to $55.18 billion during the first six months this year, according to new figures.
Source: PTI
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