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MOFCOM to keep eye on Sany lawsuit against Obama

0 Comment(s)Print E-mail CNTV, October 20, 2012
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The latest trade tussle between China and the U.S. China’s biggest machinery manufacturer, Sany Group, recently took the bold move to sue U.S. President Barack Obama. This comes after Obama blocked a company owned by two Sany executives, from acquiring a wind farm located near a testing site for military drones. Earlier today, China’s Ministry of Commerce says it’s keeping a close eye on the situation.

Sany Group recently took the bold move to sue U.S President Barack Obama. China’s Ministry of Commerce is keeping close watch over progress made in the case.

Shen Danyang, Spokesperson, MOFCOM, said, "This is not the first time the U.S government has rejected investment projects of companies that have Chinese stakes in them, on the basis of national security concerns. This kind of decision from the U.S side, will harm Chinese companies’ enthusiasm to invest in the U.S, and jeopardise benefits to both countries."

He also warns, U.S politicians should separate political issues from economic activities, and failure to do so would have a negative impact on the economic relationship between both countries.

Shen Danyang said, "We disagree and oppose any remarks or actions to politicise economic and trade matters. Whether it would impact Sino-U.S economic and trade relations, we will wait and see their next move. "

Shen also says until September this year, China’s investment growth in many countries have reached around 50 percent, but growth in the U.S. is the slowest. He notes, the situation poses some concern for the U.S. economy.

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