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Proposed property ban on Chinese 'violates market economy rules', says Beijing

Friday, 10 February 2023 10:56 AM [ Last Update: Friday, 10 February 2023 11:14 AM ]

A rally against Senate Bill 147, the bill to ban citizens from some countries, including China, from buying real estate in Texas, at City Hall in Houston. (Photo by The New York Times)

The United States is violating the principles of market economy and international trade rules in considering a ban on Chinese citizens buying property in the US, the Chinese foreign ministry says.

"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 said at a press briefing Friday.

"I want to stress that China-US 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."

The remarks came in response to a question about some US states considering a ban on Chinese citizens from buying property under the recently filed Texas Senate Bill 147, which would prohibit citizens and business entities from China, Iran, North Korea and Russia from purchasing land in Texas.

According to reports, Texas, Florida, Arkansas and several other US states are proposing a bill that will bar Chinese citizens and companies from purchasing land, amid rising tensions between the two arch-foes.

Texas Governor Greg Abbott, a Republican state senator, is proposing to broaden the ban, seeking to stop Chinese citizens and companies from buying land, homes or any other real estate in his state.

Whereas, Governor Ron DeSantis of Florida said in a news conference last month that they don't “want to have holdings by hostile nations”, in an oblique reference to Chinese people.

“Through the years I have helped a lot of Chinese immigrants purchase their homes in Houston, and a lot of them had been working toward their citizenship for years,” Kevin Yu, a green card holder and a real estate agent in Houston, was quoted as saying by The New York Times.

The proposed bill in Texas, he said, would “take American dreams away from these people, including my family.”

The move comes days after an alleged Chinese spy balloon was spotted over American skies, and was later taken down by US fighter jets on Saturday.

The incident fueled tensions between the two countries and resulted in US Secretary of State Antony Blinken postponing his visit to Beijing.

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