Top intelligence and law enforcement officials in Washington are issuing a stark warning to American companies: The Chinese government wants to replace you.
Asked whether the Chinese government wants to compete with or eliminate American companies, FBI Director Christopher Wray told CNBC: "Well, their definition of competing, I think, involves embracing the idea of eliminating."
The paid-in foreign investment reached 127.69 billion yuan, up 14.5% year on year.
Foreign companies including US investors have been upbeat about the China market and plan to expand in China.
Former GE engineer David Zheng and GE Aerospace also declined to comment.
Persons:
Christopher Wray, Sen, Marco Rubio, Rubio, Mark Warner, …, Warner, Xu Yanjun, Xu, James Olson, Xu Yanjun's, David Zheng, – CNBC's Katherine Liu, Bria Cousins, Laura Measher, Wally Griffith
Organizations:
CNBC, American, Democrat, World Trade, Ministry of State Security, GE, Boeing, Honeywell, GE Aviation, FBI, CIA, American Chamber of Commerce, Business Environment, US Department of Commerce, GE Aerospace
Locations:
Washington, America, U.S, China, Nanjing, Cincinnati, South China, reinvest