XIAMEN, China, Sept 7 (Reuters) - Blocking investment deals in the name of national security is a form of protectionism, Chinese Commerce Minister Chen Deming said on Tuesday.
Chen did not mention any particular country, but appeared to refer to a recent case in which a state-owned Chinese steel firm faced opposition in the United States over plans to invest in a steel plant there.
"For a very simple plant, some argue that it is a threat to national security, and dozens of congressmen jump out to oppose the project," Chen said.
China's Anshan Iron and Steel Group Corp [ASISG.UL] has said that it is committed to pushing forward with its U.S. steel investment plans, despite criticism from U.S. lawmakers. [ID:nN20145465]
Chen was speaking at the UNCTAD World Investment Forum in the southeastern city of Xiamen.
He said China's outbound investments would reach $60 billion in 2010, up from $56.5 billion in 2009. China was the fifth-largest source of foreign direct investment in the world last year.
Chen added that China would continue to welcome foreign investment because it still needs the management expertise and technology that foreign firms can bring. (Reporting by Zhou Xin and Simon Rabinovitch; Editing by Ken Wills)