China Accuses US Of Violating 'Rules Of Market Economy' Over Proposed Property Purchase Ban

The foreign ministry of China reportedly said on Friday that the U.S. was violating the principles of market economy and international trade rules in mulling a ban on Chinese citizens buying property in the U.S.

What Happened: “Generalizing the concept of national security and politicizing economic, trade and investment issues violate the rules of market economy and international trade rules,” spokesperson Mao Ning at a regular press briefing, reported Reuters.

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Mao was answering a question about Texas and Florida considering a ban on Chinese citizens in the U.S. from buying property.

Texas, Florida, Arkansas and several other states are considering a legislation that would prevent Chinese citizens from buying real estate, the report stated.

Mao emphasized that the economic and trade cooperation between China and the U.S. is beneficial for both sides. Mao also pointed out that "Chinese enterprises have invested in the United States" and played a significant role in "promoting domestic employment and economic development" in the country over the years.

In January, Texas Governor Greg Abbott tweeted about a bill that was filed in Texas legislature to ban citizens, governments and entities of China, Iran, North Korea and Russia from purchasing land in the state.

"I will sign it. This follows a law I signed banning those countries from threatening our infrastructure," Abbott had tweeted.

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