(Yicai Global) Jan. 4 -- China hopes the US can create a level playing field and a stable environment for Chinese firms, Ministry of Foreign Affairs spokesman Geng Shuang said after Washington's national security panel rejected Ant Financial Services Group's acquisition of MoneyGram International Inc.

The two companies announced the termination of their merger agreement yesterday following its failure to get approval from the Committee on Foreign Investment in the US.

The Alibaba Group Holding Ltd. [NYSE:BABA] unit will pay MoneyGram USD30 million for calling off the deal. The groups plan to work together on strategic initiatives in the remittance and digital-payment markets.

"China and the United States are about to ride a bumpy journey in trade in 2018 if the US government goes its own way, and retaliatory measures by China could be on the table," a commentary piece that state-run Xinhua News agency published said. "But the price is too high for the two peoples to pay if skepticism grows and tension escalates. Composure and pragmatism are needed to steer trade ties safe and sound."

"It is not surprising that a number of Chinese companies have hit the buffers in Washington as trade tensions between the two countries are flaring," it said.

Founded in 1940, MoneyGram is second only to The Western Union Co. in the money transfer business. It cooperates with the Industrial and Commercial Bank of China Ltd. and the Bank of China Ltd. Customers can send money overseas through MoneyGram's global network at branches of those banks.