Today's China is not the former Soviet Union and China has no intention of becoming another United States, noted Wang.
Anyone who tries to start a so-called "new Cold War" in the 21st century will be on the wrong side of history and will only be remembered as the one who has upended international cooperation, Wang said.
"There is such a degree of political intervention, government intervention into the market. There's such a discrimination against Chinese company. These companies are just private companies," the ambassador said.
What they want is to revive McCarthyism in an attempt to undermine U.S. relations with China, stoke hostility between the two peoples, and erode trust between the two countries, Wang said.
National security legislation underpins the very survival of any country, and it is a common legal practice of all countries, Wang said.
Business owner Diego Tangarife also highlighted the China-proposed Belt and Road Initiative for global development, saying it fosters greater international cooperation.
"Very often we hear complaints here that we don't give a level playing field to American companies. But more and more, I believe we should complain Chinese companies are not having a level playing field here," he said.
"After all, what would happen to business confidence if governments assumed that they could extort private enterprises at will?" Wei added.
Foreign Ministry spokesperson Zhao Lijian made the remarks at a press briefing when asked to comment on a survey released by the U.S.-China Business Council (USCBC).
Spokesperson Wang Wenbin made the remarks at a routine press briefing after Australian Prime Minister Scott Morrison delivered a speech at the Aspen Security Forum on Wednesday, saying that Australia welcomes China's rise, and expects China to play a role in regional and global stability. He also said Australia has found no evidence showing it should restrict the popular short-video app TikTok.
"This very huge market access enables Cambodia to diversify its products and markets and reduce over-reliance on a few trading partners, i.e., Europe, U.S., and Canada, who traditionally trade with Cambodia on a concessional basis such as Everything But Arms (EBA), Generalized System of Preferences (GSP)," he said.