US Senior Official: The news that restricts US companies’ investment in China is fake news.
Photo: Peter Navarro, White House Trade and Economic Affairs Adviser
US Presidential Economic Adviser Peter Navarro clarified on September 30 that the news that the White House is preparing to take measures to restrict US companies from investing in China is inaccurate.
Navarro told CNBC on Monday that the news originally published by Bloomberg was not serious enough. He said: "More than half of them are very inaccurate and are simply fake."
That news came out on Friday. Bloomberg News reported that the Trump administration is considering restricting US investors to invest in China, including delisting Chinese companies from the US stock market. After the news came out, it was forwarded by a number of media including CNBC.
A US Treasury spokesman denied the news over the weekend. She said: "The Administration has no plans to prohibit Chinese companies from listing on the US stock market.
Reuters quoted Navarro as saying: "This is indeed an irresponsible report. The problem we face is that these bad reports have squeezed out good reports." Navarro said that the actual situation is that "Peng When Bo’s manuscript came out, other media were under pressure and they were quickly reprinted.”
The news of Bloomberg has had a big impact on the US and Chinese stock markets. Last Friday, the US stock market fell sharply, while China's stock market also fell across the board on Monday, showing a recent rare decline.
Chinese Foreign Ministry spokesman Yan Shuang said on September 30 that forcibly decoupling Sino-US relations will inevitably harm the interests of Chinese and American companies and people, trigger financial market turmoil, and endanger international trade and world economic growth.
Yan Shuang pointed out that the essence of Sino-US economic and trade cooperation and Sino-US financial cooperation is mutual benefit and win-win, and decoupling is not in the common interest of the international community.
China’s Vice Minister of Commerce Wang Shouwen said on Sunday that Beijing and Washington should use a “cool and rational attitude” to find a way to resolve bilateral trade disputes.
Over the past year or so, the US-China trade war has continued to escalate, and the scale of the increase in tariffs covers almost all commodities in the US-China bilateral trade. The bilateral negotiations have been carried out for 12 rounds so far, and there has been no agreement.
The Chinese Ministry of Commerce confirmed on Sunday that Vice Premier Liu He will lead a delegation to Washington, DC, for the 13th round of high-level US-China economic and trade consultations in the week following China's National Day. It is reported that the next round of US-China bilateral trade negotiations will be held on October 10.
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