China Calls for More U.S. Transparency in Acquisitions, Removal of Barriers
China's Ministry of Commerce has stated that China hopes the U.S. will make the approval process for Chinese enterprises seeking to invest in the U.S. more transparent. Yao Jian, the ministry spokesman, made the remarks during a news briefing when…
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a question was raised about Huawei Technologies Co's troubled bid to acquire U.S. server technology firm 3Leaf Systems in 2010, in which the Pentagon retroactively requested a review of the acquisition. Huawei was told recently by a U.S. security review panel that it must sell 3Leaf or the committee would recommend U.S. President Obama cancel the deal. Chinese and foreign experts stated that the U.S. overreacted to the acquisition, and called to remove non-trade barriers between the two countries.