China is Going to Respond to U.S. Restrictions on Payment Apps
OREANDA-NEWS. Chinese Foreign Ministry spokeswoman Hua Chunying said on Wednesday that China will take the necessary measures to protect the legitimate interests of Chinese companies after the US imposed restrictions on 8 Chinese payment applications.
Earlier, US President Donald Trump signed an executive order banning transactions with individuals who control 8 Chinese mobile payment applications, Trump said in a text. The decree goes into effect 45 days later, that is, February 19 - about a month after Trump is due to leave the presidency. His successor, Joe Biden, has the option to drop these measures. Trump attributed these actions to a potential threat to the country's national security. Banned apps include Alipay, CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay, and WPS Office.
As Hua Chunying said at the briefing, they call on the American side to respect the principles of a market economy and fair competition, respect the rules of international trade, and provide an open, fair and non-discriminatory business environment for foreign companies, including Chinese ones. She adds that the Chinese side will take the necessary measures to protect the legitimate interests of Chinese companies.
Hua Chunying stressed that these actions by the United States are another example of the use of state force, ostensibly to protect national security, to exert pressure and psychological terror against foreign companies.
According to the Chinese representative, the measures taken by the United States will affect Chinese companies, but most importantly, she said, they will do more damage to the interests of American consumers.