14:02 GMT +314 November 2019
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    A Chinese flag hangs near a Hikvision security camera outside of a shop in Beijing, Tuesday, Oct. 8, 2019

    China to Keep Watchful Eye on US Blacklist, Further Open Up to Foreign Investment

    © REUTERS / Mark Schiefelbein
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    China’s telecom company Huawei and several other Chinese firms have been put on a US “entity list” that will effectively bar them from purchasing technology from American firms without the US government's consent. Washington has accused the companies of spying on behalf of Beijing - a claim denied both by both the firms and the Chinese government.

    China will closely monitor the US "entity list" and take steps to protect its rights and interests, Huang Libin, a spokesman for China's Ministry of Industry and Information Technology, said on Tuesday.

    Speaking at a briefing, the official told reporters that China will continue broadening the scope of foreign investment in sectors such as telecommunications, Internet, and the car industry.

    "We will look at the trade friction between China and the United States with an open mind and a big heart", the spokesman said. "We will not blindly emphasise 'self-reliance', and not decouple from the development of international industries".

    In May, the US put the telecom company Huawei and its affiliates on a blacklist, restricting the company's access to the purchase of US hardware. The ban is expected to come into effect next month.

    The White House has repeatedly accused Huawei of espionage activities on behalf of the Chinese government, charges that both the company and Beijing vehemently deny.

    The accusations come as part of a broader US-Chinese trade row that broke out after Washington imposed increased tariffs on Chinese imports, which later resulted in a series of tit-for-tat measures.

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