– China Says Proposed Bans On US Property Purchases Violate Market Rules:
China’s foreign ministry has cried foul over proposals in Florida and Texas to ban Chinese citizens in the United States from buying property – saying that it violates the principles of market economy and international trade rules.
“Generalizing the concept of national security and politicising economic, trade and investment issues violate the rules of market economy and international trade rules,” said spokesperson Mao Ning during a Friday press briefing.
In addition to Texas and Florida, Arkansas and several other states are considering similar legislation, Reuters reports.
“I want to stress that China-U.S. economic and trade cooperation is mutually beneficial in nature. Over the years, Chinese enterprises have invested in the United States and made important contributions to promoting domestic employment and economic development in the United States,” said Mao.
According to a report last July, Chinese investors spent a record $6.1 billion on homes in 2001 – primarily in California and Florida, the National Association of Realtors reported.
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