China opposes abuse of export controls: spokeswoman

China has consistently opposed the abuse of export control measures, as it disrupts the stability of global industrial and supply chains and serves no party's interests, Foreign Ministry spokeswoman Mao Ning said at a press briefing in Beijing on Friday.

Mao made the remarks in response to a media question about U.S. lawmakers and Commerce Department's calls for stricter AI chip export restrictions.

"China has consistently opposed the abuse of export control measures, as it disrupts the stability of global industrial and supply chains and serves no party's interests. China and the United States should work together to implement the important consensus reached between the two heads of state and maintain the stable development of bilateral economic and trade relations," Mao said.

China's social financing grew by 28.61 trillion yuan (about 4.28 trillion U.S. dollars) in the first 10 months of the year, the People's Bank of China said on Friday.

By the end of October, outstanding aggregate financing to the real economy, or social financing stock, stood at 469.16 trillion yuan, up 7.2 percent year on year.

M2, a broad measure of money supply that covers cash in circulation and all deposits, reached 359.06 trillion yuan, up 7.1 percent from a year earlier, the central bank's data showed.

The numbers show a reasonable growth of the country's aggregate financial volume, which provides a sound monetary and financial environment for sustained economic development toward new drivers, quality and improvement.

Outstanding yuan loans stood at 283.33 trillion yuan at the end of October, up 4.7 percent year on year. Within that, medium and long-term loans to the service sector excluding real estate grew 9.2 percent, while inclusive loans to micro and small businesses rose 6.9 percent, showing credit expanding at a reasonable pace with an improving structure.