Chinese official reassures foreign firms over equal treatment

16:11 | 01/10/2017 Global Economy

China's Ministry of Commerce has reassured overseas businesses that they will always receive equal treatment in the Chinese market.

MOC spokesperson Gao Feng - Photo: mofcom.gov.cn

MOC spokesperson Gao Feng said there would be no discrimination in Chinese industrial policies, at a press conference Thursday.

"The State Council has highlighted equality for both domestic and foreign-funded businesses," he said.

A State Council document in January highlighted that all businesses participating in "Made in China 2025," the country's manufacturing improvement plan, would receive equal treatment.

"China's industrial policies are aimed at guiding and stimulating industries...and will not distort the market," Gao said.

The remarks came one day after U.S. Commerce Secretary Wilbur Ross criticized China's subsidies on the production of robots and electric cars.

The Chinese government has announced a timetable to withdraw subsidies step by step and promised to reduce restrictions for foreign investment to access the manufacturing of new energy vehicles (NEVs).

"The opening up in NEV sector has remained persistent," Gao said.

Gao also reiterated the government's determination to protect intellectual property rights (IPRs).

"IPR protection is crucial to China's innovation-driven development," he said.

Theo chinadaily