Mr Macron centrist offered to give Chinese investors access to French markets in exchange for greater access to China’s economy, stressing the need to avoid trade imbalances.
France and China signed deals in the nuclear, aviation and other key sectors on the second day of Mr Macron’s first state visit to China.
But asked by reporters whether he scrutinised “all” investment proposals put forward by Chinese firms, Mr Le Maire said he had rejected “many” Chinese projects in France.
He said: “We accept long-term investments, not pillaging investments. Chinese investors rely on hardball negotiating tactics, which is why we need a fair and balanced trade deal with China.
“We need access to Chinese markets and must do what we can to stop [Chinese firms] from pillaging our technologies.”
France currently runs a $30 billion euro (£22.2 billion) trade deficit with China.
Echoing his finance minister’s thoughts, Mr Macron offered during the trip to open up the French economy to Chinese investors in exchange for reciprocal access to China’s booming markets, warning that existing trade imbalances between the two countries would lead to protectionism.
Mr Macron told French and Chinese business leaders at a start-up incubator in Beijing: “We have an access to markets which is unbalanced, unsatisfying.
“If we don’t deal with this responsibly, the first, natural, reaction will be to close up on both sides.”
Chinese premier Li Keqiang, for his part, said that China “welcomed” French investment.
Mr Keqiang told Mr Macron, according to a Chinese government statement: “We welcome France to expand investment in China and exports of high-grade French products, and we hope the French side will also further loosen exports of high-tech products to China.”
Mr Macron also said that he and Mr Xi had discussed the need to protect fundamental human rights and freedoms, adding that a “respectful dialogue” was the best way to reinforce bilateral ties and achieve results.