(Bloomberg) -- China called the U.S. export ban on Huawei Technologies Co. a rough disruption to the chip-making market and vowed to further open its industrial sector for foreign investment.
“The U.S. has roughly interfered in the integrated circuit sector’s global market order with a groundless accusation,” Wang Zhijun, vice head of the Ministry of Industry and Information Technology, said in an interview on state broadcaster China Central Television, discussing the U.S. placing Huawei on an export blacklist. “The big irony is that U.S. has always paraded itself as being a market economy.”
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Wang urged the U.S. to stop the “unreasonable suppression” of China’s integrated circuit and electronic companies, and return to a fair and normal environment for Chinese companies to operate and invest globally, including in the American market.
China will continue to open for foreign investment its airline, shipping, automobile and telecommunications industries. The government also will narrow the list of sectors closed to foreign investment. It will expand areas that encourage investment and speed the implementation of large foreign investment projects, Wang said.
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