(Yicai) Nov. 3 -- China's Ministry of Commerce hopes that the United States will honor its promise to not decouple from China and obstruct Chinese economic development and cancel the restrictions on investment in China to create a suitable environment for trade cooperation between the world's two largest economies.

Some US banks, manufacturers, and industrial bodies recently expressed their concerns to the government, warning that measures to restrict investment in China will likely harm domestic innovation and hoping to convince the government to limit the scope and size of the measures, MOFCOM's spokesperson Shu Yuting responded to this matter with above statement at a press conference yesterday.

The US carried out decoupling and broke investment connections with the pretext of state security and de-risking, severely impacting companies' business decisions, damaging the global economy and trade order, and disrupting the security of global supply chains, Shu noted.

However, the US restriction will also put local firms in unfavorable positions and hinder technological progress as the US business community was concerned, Shu pointed out, adding that this is a typical example of how harming others does not bring any benefits to yourself.

A similar move was made by the European Union. Recently, the European Commission announced that it will start reviewing wind power products imported from Chinese companies that received subsidies from the Chinese government to enhance the competitiveness of its wind power sector.

China and the EU are dedicated to driving green transformation and dealing with climate change, Shu said. In recent years, Chinese firms' wind power products played a key role in speeding up the EU's green transition, energy conservation, and emission cut targets, she noted.

Meanwhile, China has always advocated for the rational and prudent use of trade remedies and firmly opposes any act of trade protectionism that abuses trade remedies, Shu added. The ministry will pay close attention to the EU's follow-up actions, she pointed out.

With regards to foreign investments in the Chinese market, Shu said that although the size of overseas capital in China in the first nine months of the year fell from a year earlier, the figure has remained relatively high compared to the level in the past decade.

The actual use of overseas funds in China dropped 8.4 percent to CNY920 billion (USD125.7 billion) in the nine months ended Sept. 30 from the same period last year, according to data from the MOFCOM.

A faster increase in newly established foreign-funded firms proved that the enthusiasm for long-term Chinese investment has not diminished among foreign businesses, Shu noted, adding that China is confident that foreign investment will develop in a good direction in the long run.

Next, the commerce ministry will focus on lowering the threshold for foreign capital's market access, strive to shorten the foreign capital's negative list for market access, lift the measures restring foreign capital's market access in the manufacturing field, and expand foreign capital's market access in the modern services industry, according to Shu.

At the same time, supportive measures should also be enhanced, she pointed out. The MOFCOM, other government agencies, and local governments will effectively implement the State Council's policies to steady foreign capital and continue to release corresponding detailed rules to ensure the policies become concrete and have real effects.

The MOFCOM will hold the China Investment Year summit during the sixth China International Import Expo to enhance the dissemination of investment opportunities and policies and improve businesses' attraction and project matching, she said.

Editors: Xu Wei, Futura Costaglione