(Yicai Global) June 26 -- The US treasury department is drafting curbs that would block firms with at least 25 percent Chinese ownership from buying US firms with "industrially significant technology," US media reports. "We hope that the US may treat business activities objectively and create a sound, fair and predictable investment environment for Chinese companies to invest in the US," Geng Shuang foreign ministry spokesman replied at a regular press conference yesterday.

The Chinese government always urges Chinese firms to invest abroad in accordance with market principles, international rules and local laws, Geng added.

China-US trade and investment cooperation is by nature for mutual benefit. Chinese companies have created many jobs and paid enormous amounts in taxes to state and local governments.

They have also brought in capital and access to markets for those American companies seeking to expand overseas.

Editor: Ben Armour