China will "take all necessary measures" to resolutely protect its legitimate rights and interests, which might be hampered by the possible US initiation of a Section 301 investigation into the country, said the Ministry of Commerce on Thursday.

The ministry, having reiterated its stance on many occasions, said it firmly opposes US unilateralism and protectionism.

It urged the US to understand the mutually beneficial nature of Sino-US economic and trade relations, according to a statement on its website.

Since the two countries established diplomatic relations nearly 40 years ago, bilateral trade volume increased by 232 times, and the amount of two-way investments exceeded $230 billion, according to the statement.

US business circles have expressed concerns about the country's unilateral action, with 45 US business associations explicitly raising objections, it said.