China decries US intervention in Huawei investment

Beijing said Washington was blocking Chinese investment in US companies following Huawei Technologies’ forced withdrawal from an investment it made last summer in 3Leaf Systems, Reuters reported. The Chinese Ministry of Commerce released a statement on its website saying that “the US side has used all kinds of excuses, including national security, to engage in obstruction and interference in the trade and investment activities of Chinese businesses in the US. This purchase of 3Leaf technology assets by Huawei was normal commercial activity, with Huawei following market economy rules and acting on its own development needs. We express regret over the outcome.” US critics of the deal say that Huawei maintains links with China’s security services, which have been denied by the Chinese firm. “To some extent, this obstruction and interference is affecting China-US trade and economic cooperation,” the ministry said.