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IPFS News Link • China

China Says Proposed Bans On US Property Purchases Violate Market Rules

•, by Tyler Durden

"Generalizing the concept of national security and politicising economic, trade and investment issues violate the rules of market economy and international trade rules," said spokesperson Mao Ning during a Friday press briefing.

In addition to Texas and Florida, Arkansas and several other states are considering similar legislation, Reuters reports.

"I want to stress that China-U.S. economic and trade cooperation is mutually beneficial in nature. Over the years, Chinese enterprises have invested in the United States and made important contributions to promoting domestic employment and economic development in the United States," said Mao.

According to a report last July, Chinese investors spent a record $6.1 billion on homes in 2001 - primarily in California and Florida, the National Association of Realtors reported.

The comments also come days after a North Dakota city council voted unanimously to block a Chinese company's proposed corn mill project over national security concerns raised by the US Air Force.

As the Epoch Times reports,

The public in attendance cheered and chanted "USA!" when the Grand Forks City Council voted unanimously 5–0 to terminate the proposal by Fufeng Group, a large Chinese agribusiness with strong ties to the Chinese Communist Party.

The proposed mill was intended to be built on 300 acres of land owned by Fufeng Group, which is only 12 miles from a military base that houses top-secret drone technology.

Grand Forks Mayor Brandon Bochenski read out the motion, stating that the council's decision to block the proposed mill was prompted by a letter (pdf) from the Air Force, sent to Sens. Kevin Cramer (R-N.D.) and John Hoeven (R-N.D.) on Jan. 27, stating that the project "presents a significant threat to national security with both near- and long-term risks of significant impacts to our operations in the area."