BUSINESS Beijing will continue to create impartial, fair market: official

BUSINESS

Beijing will continue to create impartial, fair market: official

Global Times

21:54, October 19, 2020

People visit the 5G communication services exhibition area during the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, capital of China, Sept. 7, 2020. (Photo: Xinhua)

China will continue to create a fair and impartial market environment, and it welcomes US firms' participation in sectors such as 5G and new-energy vehicles, said Xiao Yaqing, head of the Ministry of Industry and Information Technology (MIIT) on Monday.

Xiao made the remarks during a video call with delegates from the US-China Business Council (USCBC)'s board of directors. Tom Linebarger, chairman of the USCBC and CEO of Cummins Inc; Craig Allen, president of the USCBC, and representatives from General Motors and Qualcomm were in attendance.

Other MIIT officials also joined the meeting.

According to a statement from the official website of the MIIT, the two sides exchanged in-depth views on China-US industrial development cooperation and other issues.

In recent years, China's 5G, new-energy vehicle and other sectors have developed rapidly, and market prospects are rosy, Xiao said, noting that China will continue to create a fair market environment and welcome active participation of US-based multinational companies.

"The US-China Business Council has actively made efforts to promote China-US economic and trade relations for many years and hopes to continue to play a greater role in promoting the common and sound development of industries on both sides," Xiao added.

Xiao's words underscored China's firm commitment to increased opening-up, despite the headwinds of protectionism and the global economic downturn in the shadow of the pandemic.

The remarks come amid the Trump administration's intensified technology crackdown on China, during which the 5G sector has been targeted, represented by the US' moves against Chinese technology giant Huawei.

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