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Beijing wants the US to decline inappropriate actions against Chinese companies



The flags of the USA and China.

Holger Gogolin | iStock | Getty Images

BEIJING – The Chinese government wants the US to cancel "inappropriate" measures against Chinese companies, Deputy Trade Minister Wang Shouwen said Monday.

The US Department of Commerce added five Chinese technology companies on Friday. Called Entity List, which effectively prohibits them from buying parts from American companies.

"We hope that under the principles of free trade and the spirit of the WTO (World Trade Organization), the US side can lift these inappropriate measures against Chinese companies and delete them from the list of Entities, which has advantages for both sides." Wang said in Mandarin after a CNBC translation.

He spoke at a press conference on Monday morning about Chinese President Xi Jinping's upcoming trip to the G20 summit in Osaka, Japan, later this week.

Recent US actions began after Chinese telecoms and smartphone giant Huawei was added to the list of companies in May, and after President Donald Trump and Xi made a call last Tuesday about plans to hold meetings on the G 20 summit.

will not directly disrupt planning for a Trump Xi meeting, but Beijing will see it as further evidence that the people around Trump intend to curb China's rise as a technology powerhouse.

The US and Chinese stock indices rose after the announcement of the call, hoping that the world's two largest economies would soon reach an agreement on a one-year trade dispute that puzzled global equity markets and worries global economic growth stoked.

"Beijing received another reminder on Friday of US readiness to crack down on Chinese technology companies with the announcement of the Commerce Department to put several Chinese supercomputer companies ̵

1; including the second largest company Sugon – on the entity list" said Michael Hirson, head of practice. China and Northeast Asia, Eurasia Group said in a note released on the weekend.

"The move will not directly disrupt planning for a Trump Xi meeting, but Beijing will see it as further evidence that the people around Trump intend to slow China's rise as a technology powerhouse," he said ,

There are talks between the US and Chinese negotiating teams ahead of the G-20 meeting, and both countries should compromise on trade talks, Wang said Monday.

Wang did not directly mention whether Huawei will be part of a trade agreement.

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