"The U.S. move to turn China into an adversary is a fundamental, strategic miscalculation. It means that the United States is funneling its strategic resources in the wrong area," he said.
The so-called "Report on Protecting United States Investors from Significant Risks from Chinese Companies" has recommendations such as enhancing listing standards on U.S. exchanges for access to audit work papers.
He also recalled that while the world was clamoring travel restrictions to and from China during the outbreak, Cambodia had maintained its commercial and tourist flights to and from China to ensure China's economy vis-à-vis regional supply chain remain less impacted.
China is committed to peaceful development and will never seek hegemony or engage in confrontation. China always believes that peace, cooperation, development, and mutual benefit are the irresistible trend of the times and the common aspiration of people around the world, Wang said.
"After all, what would happen to business confidence if governments assumed that they could extort private enterprises at will?" Wei added.
At the same time, China continued to actively promote foreign economic and trade cooperation, which effectively boosted the total world demand and promoted the development of international trade, Zhao said, adding that foreign-funded projects with an investment of more than 100 million U.S. dollars increased to 320 in the first half of the year.
Spokesman Wang Wenbin made the remarks at a routine press briefing after Joerg Wuttke, president of the European Union Chamber of Commerce in China, on Tuesday expressed confidence of European companies in China's development prospects.
Noting that China's economic growth turned to positive in the second quarter, Zhao said the Chinese economy has withstood the impact of the epidemic and demonstrated strong resilience and development potential.
Chinese State Councilor and Foreign Minister Wang Yi has recently affirmed that China rejects any attempt to create a so-called "new Cold War," said Professor David Castrillon of Externado University in Colombia's capital Bogota.
China and ASEAN countries, including the Philippines, are currently focusing on the fight against COVID-19 and resuming economic activities, which call for solidarity, coordination, peace and stability, Wang said.
What they want is to revive McCarthyism in an attempt to undermine U.S. relations with China, stoke hostility between the two peoples, and erode trust between the two countries, Wang said.