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China upset as U.S. bars Fujian buying Aixtron's U.S. business

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Staff Writer | December 5, 2016
China's Foreign Ministry expressed displeasure on Monday after President Barack Obama blocked a Chinese investment fund from acquiring the U.S. business of German semiconductor equipment maker Aixtron.
Lu Kang
Trade dispute   A German company with American assets
Obama's executive order barring China's Fujian Grand Chip Investment Fund (FGC) from completing the acquisition of a German company with American assets was one of only a few such instances in which a U.S. president has blocked a transaction due to national security concerns.

Chinese Foreign Ministry spokesman Lu Kang said the government had always supported Chinese firms investing overseas on the basis of market principles, international rules and respecting local laws.

The Aixtron deal is purely a commercial matter, he added.

"China resolutely opposes the politicization of any normal commercial takeover or the wrong move of political obstruction," Lu told a daily news briefing.