BEIJING — China’s government slammed fresh US efforts to restrict access to American financial markets on Friday, saying it will safeguard Chinese firms but offering no hint of retribution.
Wang Wenbin, a spokesperson for China’s foreign ministry, accused the United States of “abusing national authority and generalizing the idea of national security to repress Chinese businesses for no cause.”
The limits were put in place by Biden’s predecessor, Donald Trump, to prevent firms from accessing US finance if they are judged to be helping the governing Communist Party’s military arm modernize. Telecom, energy, aerospace, and other businesses are among them.