China's Firm Stand Against U.S. Regulatory Moves

China reinforces its commitment to protect the lawful rights of its companies as the U.S. Securities and Exchange Commission seeks tougher regulations for foreign firms, highlighting concerns over disproportionately lax disclosure requirements benefiting Chinese companies. China's foreign ministry calls for adherence to market regulation and fair competition.

China has vowed to take decisive action to safeguard the legitimate rights of its enterprises. This follows the U.S. Securities and Exchange Commission's (SEC) move towards implementing stricter regulations on foreign companies, a measure seen to particularly affect Chinese firms.

The SEC's unanimous decision pushes for public commentary on new regulations, aimed at ensuring that foreign companies, especially from China, adhere to more rigorous disclosure protocols to investors.

In response, Lin Jian, a spokesperson for China's foreign ministry, emphasized that the U.S. should maintain fair competition and adhere to established market regulations during a news conference.

(With inputs from agencies.)