Europe

China appeals to US to stop disrupting acquisitions

China has urged Washington to stop disrupting its foreign corporate acquisitions after President Obama blocked the purchase of a German maker of semiconductor equipment on security grounds.

A foreign ministry spokesman, Lu Kang, said Monday the proposed purchase of Aixtron SE by China's Fujian Grand Chip was "pure market behavior."

Lu said Beijing hopes Washington will "cease making groundless accusations" against Chinese companies.

Obama on Friday ordered Fujian Grand Chip to drop its attempt to take over Aixtron's California subsidiary. German officials also have said they are reconsidering permission for the Chinese buyer to acquire the German parent.