Chinese officials have accused the US of harbouring "hostility" to investments by foreign government-controlled entities and of drifting towards "investment protectionism" in proposed regulations that set out how cross-border deals ought to be vetted.The Chinese Securities Regulatory Commission said in a letter to the US Treasury that the proposed regulations left "too much room for interpretation" by the Committee on Foreign Investment in the US, or Cfius, an inter-agency panel chaired by the Treasury, and left the body with "excessive authority".The proposals were also criticised by the Chinese Ministry of Commerce. "This discriminating provision apparently tilts toward investment protectionism and is tinged with the colour of politicising economic issues. It therefore stands as a grave impediment for the normal course of investment in the US," it said.
The Chinese Securities Regulatory Commission said in a letter to the US Treasury that the proposed regulations left "too much room for interpretation" by the Committee on Foreign Investment in the US, or Cfius, an inter-agency panel chaired by the Treasury, and left the body with "excessive authority".
The proposals were also criticised by the Chinese Ministry of Commerce. "This discriminating provision apparently tilts toward investment protectionism and is tinged with the colour of politicising economic issues. It therefore stands as a grave impediment for the normal course of investment in the US," it said.
