China's new security review of foreign direct investment, which began in April, is "open, fair and transparent", Chen Deming, Chinese minister of commerce, told the media on Monday on the sideline of the 3rd Strategic and Economic Dialogue.
China is not raising the bar or setting barriers for foreign businesses investing in China, Chen said.
China adopted the new security review regime so as to safeguard the country's national security. China "looks at the US as a teacher", as far as ensuring national security is concerned, Chen said
China urges "the teacher" to do the same to make its security reviews of Chinese firms doing businesses in the US transparent and fair, Chen added.
The Committee on Foreign Investment in the US (Cfius), a group headed by the Treasury department with members coming from defense and intelligence departments, conducts regular screening on Chinese firms trying to expand businesses in the US through mergers and acquisition.
Chen said quite a few Chinese firms have failed to pass the Cfius review.
While declining to name the firms so as not to affect their businesses in the US, Chen said Cfius has failed to release how the group conducted their review in a transparent and fair manner.
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China is not raising the bar or setting barriers for foreign businesses investing in China, Chen said.
China adopted the new security review regime so as to safeguard the country's national security. China "looks at the US as a teacher", as far as ensuring national security is concerned, Chen said
China urges "the teacher" to do the same to make its security reviews of Chinese firms doing businesses in the US transparent and fair, Chen added.
The Committee on Foreign Investment in the US (Cfius), a group headed by the Treasury department with members coming from defense and intelligence departments, conducts regular screening on Chinese firms trying to expand businesses in the US through mergers and acquisition.
Chen said quite a few Chinese firms have failed to pass the Cfius review.
While declining to name the firms so as not to affect their businesses in the US, Chen said Cfius has failed to release how the group conducted their review in a transparent and fair manner.
Weekly review May 05 Fight against terrorism should strike at roots April 29 'Human rights overriding sovereignty' only a mask of hegemony May 04 Human rights dialogues need mutual understanding May 03 Highlights of China's sixth national census results May 07 The week in pictures May 03 Expats seeking opportunities in China May 04 Some Chinese colleges face decreasing enrollment, struggle to survive May 05 French leader: China's peaceful rise puts world at ease April 29 Ten most valuable cultural relics displayed at Xi'an exposition park May 03 US kills Bin Laden, ending 10-year manhunt
