Banker says blocking Sany, Huawei Technologies 'totally groundless'

A decision in the United States to block Sany Group Ltd's involvement in a wind farm project was "foolish" and blurred the whole picture of a general open US attitude toward Chinese investment, a top Chinese banker said at the Summer Davos.

Li Ruogu, chairman of the Export-Import Bank of China, a State policy bank, said the US move was "totally foolish" and its justification of the move citing "national security" was totally "groundless".