This file photo taken on April 1, 2022 shows the Central Government Offices in Hong Kong. (ANDY CHONG / CHINA DAILY)

HONG KONG - The Hong Kong Special Administrative Region government criticized the US on Thursday for a series of measures unreasonably targeting the city to undermine and cause damage to normal trade and investment activities.

In a statement, a spokesperson for the SAR government expressed its strong objection and disapproval of the US measure restricting investment on the Chinese mainland.

The spokesman explained that the US was the largest trading partner of the mainland in 2022, and the third largest trading partner of the HKSAR, with trade value amounted to HK$5,948.4 billion ($759.4 billion) and HK$502.1 billion respectively.

The US' unreasonable and restrictive measure on investment seriously violated the principles of market economy and fair competition, undermined international economic and trade order and jeopardized the economic and business interests of US businesses and the US.

HKSAR government spokesperson

Meanwhile, the mainland and the HKSAR were the US' third and 29th largest trading partners respectively. As at end-2021, the US ranked sixth of inward direct investment (IDI) into the HKSAR, with an IDI stock of HK$355.8 billion, while it ranked ninth of outward direct investment (ODI) from the city, with an ODI stock of HK$139.2 billion, the spokesperson said.

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“These figures demonstrated the close economic interaction between Hong Kong and the US, as well as the vast business interests of US businesses in Hong Kong,” the spokesperson stressed.     

"The US' unreasonable and restrictive measure on investment seriously violated the principles of market economy and fair competition, undermined international economic and trade order and jeopardized the economic and business interests of US businesses and the US,” the spokesperson said.

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The measure also created further uncertainties for global economic recovery and growth and the US should withdraw the unreasonable measure concerned, said the spokesman, adding that the government was closely monitoring the developments and would resolutely safeguard the HKSAR's rights and interests.