China calls US for fair play in trade, investment

BEIJING - The United States should give China fair treatment in export and investment issues, the Ministry of Commerce (MOC) said Thursday.

The United States has exercised strict control over high-tech exports to China while criticizing China for encouraging independent innovation, which is an apparent paradox, according to a research report on Sino-US economic and trade relations released Thursday by the MOC.

The US export control is based on the Cold War mentality, ignoring the rapid development of bilateral ties and not fitting into its future development, the report pointed out.

China hopes that the United States will take concrete actions in easing the export control and effectively loosen the restrictions on products exported to civilian users for civil purposes, which will also help reduce the US trade deficit, the report added.

Meanwhile, with surging Chinese investment in the United States, the cases receiving security review regarding foreign mergers and acquisitions by the Committee on Foreign Investment in the United States (CFIUS) have also increased rapidly.

Unfair requirements such as the mitigation agreement and prejudice against the Chinese State-owned enterprises (SOEs) have seriously hindered Chinese enterprises wanting to invest in the United States, according to the report.

China hopes that the US government can give equal treatment to Chinese investors in the national security review of mergers and acquisitions, and that the Chinese SOEs can receive fair treatment, the report added.

The MOC also said the United States should refrain from abusing trade remedy measures against Chinese products, citing an example in US trade remedy investigations against China's iron and steel products.

The United States' moves to pressure China over steel excess capacity while taking trade remedy measures have sent a strong signal for protecting its domestic industry, the report added.