China opposes US competition bill, says it exaggerates Chinese threat theory

Beijing [China], March 29 (ANI): Beijing on Tuesday strongly opposed the United States bill aimed at increasing competitiveness with China and is determined to protect its interests.
This comes after the US Senate approved a bill aimed at making the country more competitive with China in the economy and security.
Speaking at a press briefing on Tuesday, Chinese Foreign Ministry spokesperson Wang Wenbin said exaggerates the theory of the Chinese threat.
"The content of the relevant bill regarding China ignores the facts, exaggerates the theory of the Chinese threat, incites the development of a strategic rivalry with China, is replete with Cold War and zero-sum thinking, and goes against the desire of various sectors of the public in China and the US to strengthen contacts and cooperation," he said.
"The Chinese side strongly opposes and will sturdily defend its interests," he added.
The relevant bill aims to address disruptions in the supply of goods such as semi-conductors and restore jobs in the US.
The bill provides USD 45 billion to improve the US supply chains and prevent shortages of critical goods by boosting domestic production.
The bill directs the Joe Biden administration and his successors to submit a report every six months identifying areas of potential dialogue with China in the ballistics, hypersonic, nuclear, space and digital fields. (ANI)