The U.S. should stop politicizing, instrumentalizing and weaponizing economic, trade and scientific and technological issues, said Chinese Foreign Ministry spokesman Lin Jian at a regular press briefing on Wednesday.
Lin responded to a media query regarding reports that the U.S. Department of Commerce has held off plans to place Chinese companies on its restrictive "Entity List".
"We have noticed the relevant reports. China has all along opposed U.S. moves to overstretch the concept of national security, and the U.S. abuse of entity list and other export controls to contain and suppress Chinese companies. The U.S. side should stop politicizing, instrumentalizing and weaponizing economic, trade and scientific and technological issues," Lin said.
China urges U.S. not to politicize, weaponize tech, trade issues: spokesman
The People's Bank of China (PBOC) on Wednesday announced a pilot program to allow offshore RMB forex trading in the country's Shanghai Free Trade Zone, a step further opening up China's financial market.
The PBOC, China's central bank, rolled out the program along with a series of other financial reform and opening-up measures at the annual Lujiazui Forum in Shanghai, an important platform for China's financial authorities to release policy tools and international dialog on the country's financial market.
In addition to the pilot program, the PBOC will also work to improve the short-term interest rate regulation mechanism, create a repurchase tool for overseas central banks, aiming to better facilitate the high-quality economic development of China's financial market.
Other authorities also unveiled their new policy tools at the forum.
The National Financial Regulatory Administration will focus on tackling and preventing risks, handling risks of small and medium-sized financial institutions in an effective and orderly manner, and playing a supportive and cooperative role in resolving risks related to real estate and local government debts. The administration will also step up efforts to eliminate regulatory gaps and blind spots, and ensure full coverage with no exceptions.
The China Securities Regulatory Commission will expand the scope of the fifth set of criteria for the STAR Market to cover the field of artificial intelligence, orderly promote the deepening of the reform of the ChiNext board, deepen the reform of re-financing, launch the pilot programs for active exchange-traded funds (ETFs) and real estate investment trusts (REITs), and accelerate the research and promotion of the pilot program for RMB foreign exchange futures.
The State Administration of Foreign Exchange will comprehensively reform the cross-border policies for foreign direct investment, further simplify the foreign exchange management of direct foreign investment and foreign debts, and issue a new batch of investment quotas for qualified domestic institutions to better promote the facilitation of cross-border financing and investment.
China's central bank rolls out pilot program for offshore RMB forex trading
