China To Take Measures To Protect Its Companies' Interests In The US - Beijing

China to Take Measures to Protect Its Companies' Interests in the US - Beijing

China will take the necessary measures to protect the legitimate interests of its companies in the United States, Zhao Lijian, a Chinese military spokesman, said on Thursday, commenting on the alleged plans of the US to add China's Ant Group to a trade blacklist

MOSCOW (Pakistan Point News / Sputnik - 15th October, 2020) China will take the necessary measures to protect the legitimate interests of its companies in the United States, Zhao Lijian, a Chinese military spokesman, said on Thursday, commenting on the alleged plans of the US to add China's Ant Group to a trade blacklist.

On Wednesday, Reuters cited two people familiar with the matter who said that the US Department of State had submitted a proposal for the administration of US President Donald Trump to add China's Ant Group, the fintech arm of e-commerce giant Alibaba, to a trade blacklist.

"China opposes the US abusing the concept of national security and its national power to oppress foreign countries. The United States must faithfully respect the principles of the market and fair competition, adhere to the principles of international trade, and provide all companies in the United States with an open, fair, non-discriminatory environment. China will continue taking necessary measures to protect the legitimate rights of Chinese companies, " Zhao said during a briefing.

Ant is China's dominant mobile payments company, offering services via mobile apps. The Alibaba Group owns 33% of Ant. The group also owns several subsidiaries and online platforms: Alibaba Pictures, Alibaba.com, AliExpress.com, Taobao.com and Tmall.com.

China has accused the US of trying to increase its presence in the South China Sea by sending navy ships to conduct freedom of navigation operations and undermining peace and stability across the Taiwan Strait after an American warship crossed the waterway on Wednesday. Whereas Beijing says it violates its sovereignty, the US insists the strait is part of international waters and its "freedom of navigation" operations are in line with international law.

Recently, the US blacklisted 24 Chinese companies, saying that they are helping the ruling Chinese Communist Party construct artificial islands in the South China Sea, which the US sees as a military provocation.