China has a huge presence in the U.S. market as well as investment, as does the United States in China, which proves there are "very deep trade ties" between the two, he noted.
National security is a nation's top priority and the prerequisite for a country to survive and thrive. The legislation for Hong Kong is aimed at eliminating the loopholes in national security and ensuring Hong Kong's long-term stability and prosperity, which is part of China's internal affairs in which no other country has the right to interfere.
Wang said that China-U.S. relations are facing the gravest challenge since the establishment of diplomatic ties, and their exchanges and cooperation in many areas are being seriously disrupted.
U.S. President Donald Trump on Thursday issued an executive order banning any U.S. transactions with the Chinese tech firm ByteDance, owner of TikTok, starting in 45 days.
"First, the normalization of relations between our two countries and the growth of this relationship over the decades has served the interests of both countries and the world very well," he said. "It's quite clear that all of us are still enjoying the positive outcome, the benefits of the growth of this relationship. Nobody can really deny this."
The sanctions against them show that China will never back down on major issues related to China's national sovereignty, security and development interests.
The move is nothing but a hysterical outburst of hegemonism after these U.S. politicians failed in their attempts to manipulate Hong Kong affairs, the spokesperson said on Sunday.
In the meantime, China will firmly defend its sovereignty, security and development interests, because this is a legitimate right inherent in China being an independent sovereign state, Wang stressed.
Chinese State Councilor and Foreign Minister Wang Yi gives an exclusive interview to Xinhua on China-U.S. ties in Beijing, capital of China, Aug. 5, 2020. (Xinhua/Zhai Jianlan)
He said the Chinese side rejects any attempt to create a so-called "new Cold War", because it contravenes the fundamental interests of the Chinese and American peoples and the global trend toward development and progress.
The relationship between the CPC and the Chinese people is as close as between "fish and water" and between "seed and soil," Wang said, stressing that those who attempt to break this strong bond are making themselves enemies of the 1.4 billion Chinese people.