Beijing: The Chinese government on Friday criticized US new steps to reduce access to the American financial market and said it would protect Chinese companies but did not provide indications of the possibility of retaliation.
S & P Dow Jones Indice and FTSE Russell deleted more Chinese companies from their indices after President Joe Biden expanded a black list of companies that were forbidden for American investors.
Such an index is the basis for billions of dollars in investment in stocks and bonds.
A Foreign Ministry spokesman Wang Wenbin accused Washington from “abusing national power and generalizing the concept of national security to suppress Chinese companies without reason.” Beijing will “take all the necessary steps” to protect the company and “defeat our efforts to disturb the internal affairs of China,” said Wang.
He doesn’t provide details.
Restrictions were launched by Biden’s predecessor Donald Trump, to block access to US financing for companies that are considered contributing to the efforts to modernize the military wings of the ruling communist party.
They include telecommunications, oil, dirgantara and other companies.
Order June 3 Biden raised the number of Chinese companies in the list to 59 of Trump’s 44.