Mofcom to talk about Huawei's forced withdrawal of US takeover deals

The head of the Ministry of Foreign Investment and economic cooperation of Mofcom spoke about the forced withdrawal of Huawei's technology assets acquisition deal to the US three-leaf (3Leaf) company. Huawei, under pressure from the US, has voluntarily withdrawn its application to the US Foreign Investment Commission (CFIUS) for the acquisition of three-leaf company (3Leaf) technical assets. The head of the Department of Foreign Investment and Economic Cooperation of the Ministry of Commerce said that we noted that Huawei's acquisition of the US 3Leaf company's technical assets was recommended by Cfius to cancel the deal. The purchase of U.S. three-leaf company's technical assets, Huawei is based on market economic rules, according to their own development needs of normal business activities.　　We regret the outcome of the case. The official further said that in recent years, the United States concerned with the protection of national security, including various reasons for Chinese enterprises in the U.S. trade and investment activities to obstruct and interference. These obstruction and interference, to some extent, affected the Sino-US economic and trade cooperation. We believe that the "open, fair and transparent" trade and investment environment is conducive to the economic development of both China and the United States, and also helps to accelerate the world economic recovery process.　　We hope that the US authorities will abandon stereotypes and avoid protectionist measures to properly treat investments from China and the rest of the world in a fair, just and open manner. The official also said that the Chinese government will ensure that enterprises comply with the legal business operation of local law, through a number of bilateral channels for communication and exchange, to help enterprises to deal with the obstacles encountered in overseas investment, to protect the legitimate interests of enterprises.