China muted on Huawei retaliation, Australia dispute amid ‘unprecedented’ trade challenges
- China’s Commerce Minister Zhong Shan says no ‘smart entrepreneurs’ will give up opportunities in the world’s second biggest economy
- Despite acknowledging trade challenges, Zhong stays silent on Washington's new restrictions on Huawei
China will not see an exodus of foreign companies from the country following the coronavirus pandemic as no “smart entrepreneurs” would abandon a market of 1.4 billion consumers, the nation’s commerce minister said on Monday.
Zhong Shan told a press conference in Beijing that China has “very obvious” appeal for foreign investors, including “abundant and high-quality labour resources” and “complete industrial supporting capabilities”.
His comments come as countries and companies begin to reassess their reliance on China’s industrial capabilities in the wake of the pandemic, which caused huge disruptions to global connectivity and ratcheted up concerns about decoupling between China and the United States.
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The minister also did not comment on what retaliatory measures China may take against Washington for its crackdown on Huawei, a Chinese telecom equipment giant that is at the centre of a US-China technology war.